Lol you technical analysts make me laugh with your make believe charts and 'indicators'. No wonder Buffett once said that he turned the charts upside down and realized they looked the same.
HSBC PMI came in at 47.8. Employee numbers decreased a seventh consecutive month. "Chinese manufacturing growth is likely to be bottoming out. However, the sharper contraction of new export orders and the lingering pressures on job markets mean that Beijing should step up easing to support growth and employment," HSBC's chief economist for China, Qu Hongbin, said in a statement.
Looks like we can look forward to more China stimulus. I'm predicting a target of $60.
RIO Price at posting:
$53.36 Sentiment: Hold Disclosure: Held
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