EmpowerTrader

Shanghai Index Testing Key Resistance Level

Short
TVC:SHCOMP   None
The Shanghai index set a new low this year bottomed out at 2443.00 last Monday. Where price has surged nicely last week, ending the week with 5.5% gain. Now price has been trading just underneath key resistance for just a day now. With US election coming out bullish for the US market, the only major concern now in the global market is trade war.

Trade Step-ups:

Bearish Reversal: Price rejects a break from current resistance level . Profit levels to look for are 2580.00 & 2550.00 respectively.

Bullish breakout: Price breaks current resistance level , look for consolidation above 2680.00.
Trade active: Price back resistance level.

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