novvoll12
Long

Clears the 2945.9 resistance, forms a 2-month base

TVC:SHCOMP   Shanghai Composite
13 0 5
7-4-16

SHCOMP@2988.6 – near-term bullish – Clears the 2945.9 resistance, forms a 2-month base

SHCOMP             broke above the 2945.9 range resistance (June 3, 2016 daily high) to form a 2-month base over 2781.2 (May 12, 2016 daily low). The base breakout signals further bullish momentum towards 3036.8 ( 38.2% retracement of the 3684.5/2638.3 downswing) next. Above the latter would open 3097.1 ( April             13, 2016 daily high) near the 200-day moving average currently at 3108.9.
However, failure to hold above the 2922.5 support (July 4, 2015 low) would dampen the bullish momentum and extend the weakness towards the 2807.5 base area (June 24, 2016 daily low).

Outlook:
Daily: bullish
weekly: neutral
Monthly: neutral


United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out