A gauge of Chinese stocks in New York that is hovering near the highest level this year after a 22 percent advance in two months may have more room to rise as trading patterns that historically have preceded gains develop. The index’s short-term moving average broke above the long-term line on Wednesday, forming a golden cross. Meanwhile, the directional movement index, a gauge of the rally’s momentum, turned positive in early July and is now signaling the strongest bullish trend since 2010.

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