I happen to know something about this market and because of that very rarely post on it.*
From Nifty Charts (that's Nifty as in the Indian equity index):
If China's economy implodes you can kiss that $26 support goodbye and look for a $16 handle.
*From our July 2007 post "EU Emission Caps, Kyoto and Three Ancient Civilizations":
...As a side note, in December 1979, as silver was making its historic run, an old Jewish trader told me he was lightening up on Ag.Comment at MarketBeat:
When I asked why he said "I hear the Indian ladies are taking their bracelets off and they've been trading it longer than I have".
The exchanges fired a popgun at the specs. When the powers that be (read: commercials) want to go nuclear they use two words: . Liquidation Onlyibid: