The index has reversed the trend with classic “Head & shoulder” reversal pattern (monthly charts), and lost over 56% since Oct 07.
The reversal in the trend is unlikely in the near future, and it may drift towards a "possible" stoppage area of 2250-2200 i.e. previous significant top achieved in June 2001.
For the extreme short term trend, a close above 2945-55 is must, if done (difficult task); expect a trading bounce towards 3200 region.June 24, 2008
Heading for 2250-2200....?
Shanghai (2831) Intermediate trend: Bearish
The index has reversed the trend with classic “Head & shoulder” reversal pattern (monthly charts), and lost over 56% since Oct 07.
The reversal in the trend is unlikely in the near future, and it may drift towards a "possible" stoppage area of 2250-2200 i.e. previous significant top achieved in June 2001.
For the extreme short term trend, a close above 2945-55 is must, if done (difficult task); expect a trading bounce towards 3200 region.
The index has reversed the trend with classic “Head & shoulder” reversal pattern (monthly charts), and lost over 56% since Oct 07.
The reversal in the trend is unlikely in the near future, and it may drift towards a "possible" stoppage area of 2250-2200 i.e. previous significant top achieved in June 2001.
For the extreme short term trend, a close above 2945-55 is must, if done (difficult task); expect a trading bounce towards 3200 region.
