Been watching the China stock market action and it's been pretty interesting lately. The Shanghai Composite just touched 4,124 points after climbing over 40 points in consecutive sessions - we're getting close to that 4,125 resistance level but things could get choppy from here.

Looking at the breakdown, the Shenzhen Composite also gained ground at 2,698 points. The usual suspects showed mixed signals - banks were all over the place with some gaining ground while others stayed flat. The real story was in the commodity and energy names getting hammered. Aluminum Corp absolutely tanked 5.54 percent, Yankuang Energy crashed 4.22 percent, and the oil majors like PetroChina and Sinopec both retreated hard. You could see the crude oil pressure bleeding into these stocks.

Here's the thing though - the global backdrop isn't helping. Wall Street got crushed on Friday with the Dow down nearly 1 percent, NASDAQ down 1.59 percent, and the S&P 500 sliding 1.33 percent. The culprit was pretty clear: crude oil went absolutely nuts, jumping over 12 percent to hit $90.89 a barrel. Middle East tensions are spiking supply concerns and that's rippling through every market.

For China stock investors, the real question is whether we hold above 4,100 or if we see a pullback. The momentum has been there but external headwinds are building. If oil prices keep climbing and geopolitical issues escalate, we could easily see support tested. Worth keeping an eye on how the China stock market opens when sentiment shifts.