U.S. regulators will be given access to conduct audits of Chinese companies listed on Wall Street, according to the latest reports from Bloomberg. The risk of delisting from U.S. exchanges has weighed on sentiment for Chinese stocks and fostered defensive sentiment among investors unwilling to risk buying stocks in the face of rising tensions between Washington and Beijing.
CHNComp resumed bullish momentum and traded higher. The support levels at 6550 points set by the two previous price reactions, along with the SMA100 (black) and SMA200 (red) averages, are now key support levels. The 100-period average has crossed the 200-period average from below, forming a bullish formation described in technical analysis as a 'golden cross'.
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Source: xStation5
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