Shanghai Composite Index, double breakout!
Other then the US stock market, i believe the next eye-catching index will be this Shanghai Composite Index
In July 2014, price broke up of this mini-triangle and then in Nov 2014, a 2nd breakout of the bigger triangle
I am pretty surprise that with economy slowing down, there is still much bullishness about it.
As price is really too far away from 8ema, i would speculate that there is a resistance zone around 3436-3584. And if Jan 2015 candle turns out to be a DOJI, there is a higher chances of reversal though not ruling out the possibility that price would continue to propel upwards to hit the upper trendline
In July 2014, price broke up of this mini-triangle and then in Nov 2014, a 2nd breakout of the bigger triangle
I am pretty surprise that with economy slowing down, there is still much bullishness about it.
As price is really too far away from 8ema, i would speculate that there is a resistance zone around 3436-3584. And if Jan 2015 candle turns out to be a DOJI, there is a higher chances of reversal though not ruling out the possibility that price would continue to propel upwards to hit the upper trendline
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