A chart analyst would be quick to point to the 13-day m/a supports that did a marvelous job yesterday to halt the rot and tempt shorts to cover and bottom-pickers to pick bottoms.
It still appears as if we are unable to escape the flux that China’s industrial complex finds itself in. Trade data this morning makes for poor reading and seems as far from a China rebound from when zero-COVID ended.
Predicting economic outlook is presently akin to chart analysis. The are so many variables and moving parts that it is as easy to come up with a sanguine projection as with a depressing one.
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