This commentary is not a trading recommendation so please follow the arrows in the charts as your guideline.
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The current North Korean crisis may help prove to be a buying opportunity after a short-term corrective decline!
Kim, loves to boast that his intercontinental rockets can reach the west coast of America declaring that the US would ‘pay dearly‘ for UN sanctions it successfully imposed with the support for the first time of China and Russia. In fact, Trump has managed to do what no president has done before – get the cooperation of both China and Russia. Nixon opened the door to China as a counter-measure against Russia – the old divide and conquer tactic. But Trump has pulled off a real political coup globally despite Congress.
Beijing has joined Trump and staged ‘large-scale‘ military exercises with dozens of warships, fighter jets and submarines adjacent to the Korean Peninsula on Monday. They have also moved 150,000 troops to its border with North Korea. Meanwhile, Russia moved military equipment including helicopters and combat vehicles to its southern frontier with North Korea. Putin has displayed its own massive military strength at a war games event in Siberia with a huge Navy Day parade in Vladivostok – about 100 miles from North Korean territory.
What is important to note here is that both military exercises are a show of force to North Korea in support of the USA.
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