EDGE Chart of the Day – China A50 (December 6th, 2023)

<div><p><div><h2 itemprop="headline">Chinese Markets Look Dangerously Weak</h2><div><div></div></div></div><br />
<section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>No matter how much China is trying to support its markets, whether it is monetary or fiscal stimulus measures in recent months, the equity markets have been very weak. Today’s EDGE chart of the Day is the China A50 which is a stock market index by FTSE which illustrates how weak some of the top A share stocks are in the Shanghai and Shenzhen exchanges are. We are nearing the lows of 2022, however the RSI is oversold. If you look at the lower pane, you will also notice that the RSI has been (and could get) much more oversold on any technical breakdown. Not pictured is the price in copper, which has a failed rally above the 200dma along with the AUDUSD with similar price action. New lows in this index may also attract unwanted attention to the price of copper and the Aussie Dollar.</p>
<p><img fetchpriority="high" decoding="async" class="alignnone size-full wp-image-11003" src="https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/CN50USD_2023-12-06_10-25-07.png" alt="" width="1538" height="839" srcset="https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/CN50USD_2023-12-06_10-25-07.png 1538w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/CN50USD_2023-12-06_10-25-07-400×218.png 400w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/CN50USD_2023-12-06_10-25-07-800×436.png 800w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/CN50USD_2023-12-06_10-25-07-768×419.png 768w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/CN50USD_2023-12-06_10-25-07-1536×838.png 1536w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/CN50USD_2023-12-06_10-25-07-1500×818.png 1500w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/CN50USD_2023-12-06_10-25-07-705×385.png 705w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/CN50USD_2023-12-06_10-25-07-450×245.png 450w" sizes="(max-width: 1538px) 100vw, 1538px" /></p>
<p>Blake Morrow</p>
<p>Our EDGE <a href="https://www.forexanalytix.com/blog/category/technical-analysis/chart-of-the-day/">“Chart of the Day”</a> feature highlights standout technical analysis patterns and price moves. This type of analysis could be helpful if you are interested in our Trader Funding Program where you can also join an elite group of traders at Forex Analytix, <a href="https://traderfundingprogram.com/?ref=blake">click here to learn more</a>. Trade our money, take 75% of the gains and none of the risk.</p>
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</div></section></p></div><section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>Blake Morrow</p>
</div></section></p>
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<p>The post <a href="https://www.forexanalytix.com/blog/chart-of-the-day-dec-6th-2023/">EDGE Chart of the Day – China A50 (December 6th, 2023)</a> appeared first on <a href="https://www.forexanalytix.com/blog">ForexAnalytix – Blog</a>.</p>