China is on the verge of breaking out from its pattern of consolidation, at least according to the monthly chart book from the analytics team at Bank of America Merrill Lynch.
If you look at the chart above you can see that the Shanghai Composite Index is in the midst of transitioning into an upward trend. Stephen Suttmeier, a technical research analyst at Bank of America Merrill Lynch, notes that we’ve reached the end of a five year downtrend and are set up for a breakout.
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