Thursday, July 09, 2015 12:49:34 AM
07/09/15 Shanghai composite index
07/09 Shanghai Morning session
Index marked a session low 3373.54 (session ongoing) and reversed.
From the following long term chart, it is hard to pinpoint the reference points for calculating the retracement, a few possible low target are:
(1) 3426-3234
(2) 3410-3216
(3) 3324-3121
imho, 3373.54 is in the range of (1) and (2). So, the index might have reached a short term trade-able bottom (,as long as 3324 is maintained).
Shanghai Stock Exchange Composite Index, a complete history since its debut in December 1990.
07/09 Shanghai Morning session
Index marked a session low 3373.54 (session ongoing) and reversed.
From the following long term chart, it is hard to pinpoint the reference points for calculating the retracement, a few possible low target are:
(1) 3426-3234
(2) 3410-3216
(3) 3324-3121
imho, 3373.54 is in the range of (1) and (2). So, the index might have reached a short term trade-able bottom (,as long as 3324 is maintained).
Shanghai Stock Exchange Composite Index, a complete history since its debut in December 1990.
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