Short
Shanghai composite
-rejected at trendline again and same megaphone pattern acting as resistance
- 3400-3500 is strong resistance zone
- 3400-3500 is strong resistance zone
Note
-ve D and busted top - update downside target at 3320
Note
- LOD 3337 and reversed- watch for lower high
Note
- lower high, previous low support, still in megaphone rangeTrade closed: target reached
LOD 3322 for now ~ not a decisive break down and RSI bullish divergence ~probably a rebound then will see
Note
LOD 3315, revise next target to 3280-3300 where greater support there.
Need a move below 3300 for bigger pattern
Note
LOD 3300 and rebounded ~ Bullish RSI divergence and we will see how strong the rebound is
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.