FMG Technical Analysis, page-8535

Sorry a bito off topic - but will close this out.


China Covid Zero Strategy Is Facing Make-or-Break Test in Chengdu - Bloomberg

Xi’s opening address at the congress Oct. 16 will be scrutinized for signals on whether China will shift from trying to eliminate Covid to living with it like the rest of the world. Any change will be hard, since China has so far declined to approve more effective mRNA vaccines and failed to bring up lagging inoculation rates among the elderly. Frank Tsai, a lecturer at the Emlyon Business School’s Shanghai campus, said he expected Xi to declare victory over Covid. A firestorm in Chengdu, and spiraling outbreaks elsewhere, could undermine the message that the policy has prevailed.“The more cities get locked down, the more Chinese will turn against Covid Zero,” said Tsai, founder of consulting firm China Crossroads. “The party knows that there is a tipping point, and it would be smart to get ahead of this tipping point and declare victory before it comes.”

XJ might be forced to make a decision earlier but I reckon he will contain the Chengdu outbreak and then announce victory over Covid at the congress.