Breakout for S&P China ETF.

SPDR S&P China ETF is on the verge of a confirmed breakout. Need a monthly close above 84 to confirm the implied measured move added to the breakout line (resistance). Target 108. Here is the monthly candle chart.

gxc_m

The weekly candle chart shows this week’s gap up above the breakout line.

gxc_w

Zoom in on the 1 year daily candle chart and the price action shows the clear try for that breakout.

gxc_d

The current month is almost closed. Will come back to this chart tomorrow and see if the close is still convincing above the 84 mark.

 

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