Above is the daily chart for China Construction Bank (0939.HK). Although the price broke the pennant, it was not accompanied by surged volume. Therefore, the price did not show a crazy rocket. It is currently testing the 61.8%-fibs level which seems to be a hard resistance. If this level breaks, I expect that it would rise till at least 7.26.
And in late Jun, we could see that 50SMA crossed 250SMA from above, leading us to question whether the trend is going to reverse or not. However, the 50SMA crossed back 250SMA from underneath, ensuring us that the bullish trend is yet to end.
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