3 charts that suggest that markets in Asia are trending up

The breakout also triggered a bullish crossover between the 50-day and 200-day moving averages, which is a popular long-term buy signal used by technical analysis enthusiasts. Based on this trend, traders will most likely seek to join the strong bullish momentum and place stop-loss orders below the long-term moving averages near $ 61.50 in the event of a sudden mood change. market or fundamentals.

IShares MSCI China ETF (MCHI)

As you can see below, the price rebounded strongly from the support of its 200-day moving average, and Monday’s spike in buying interest resulted in a close above a very trendy line. influential. Again, the bullish crossover between long-term moving averages, known as the golden cross, will likely be used by active traders to mark the start of a major long-term bullish trend. From a risk management perspective, stop-loss orders will most likely be placed below $ 60.63 in the event of a surprise sale or a significant change in fundamentals.

IShares MSCI South Korea Capped ETF (EWY)

Based on the performance of other markets, traders will most likely keep an eye out for a move above the neighboring trend line, which could trigger buy-stop orders and send the price back to 2019 peaks. As noted above, stop loss orders will most likely be placed below long-term averages to protect against a sudden change in momentum.