dannyspk
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September 02, 2014, 10:39:19 PM

Strange. Market activity usually calms down in China by this time.. but there's decent buying pressure right now in China. What's happening?

I wouldn't say much is going on. This is all very low volume, and Huobi actually looks to be forming a rounded top. If we don't see any panic buying very soon, I think we will pull back.

Just the timing is really odd for this kinda volume. Plus 2950 CNY is being tightly held.. Panic buying might start later on. A lot of resistance to break before that happens.