IvanLabrie
Short

Sinopec: Bearish signals on chart

NYSE:SHI   SINOPEC SHANGHAI PETROCHEMICAL
a year ago
Sinopec, China's leading oil             company and publicly traded company appears to be in a 6 week uptrend currently, leading right to a strong low volume resistance level , if the target is hit.
Overall, the bias would be to the downside, but there are a few different ways that price can behave.
The first would be breaking the blue line and heading straight down, and the others involve rallying an hitting the red resistance level before turning south.
Keep close watch of it, might be a good economic indicator.

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Cheers,

Ivan Labrie
Time at Mode FX
Analyst at Concord Bay dot com
a year ago
Comment: Breaking down.
a year ago
Trade active: Confirmed.
a year ago
Comment: On track.
a year ago
Comment: Path A.
a year ago
Comment: What can I say...close to first target.
a year ago
Trade closed manually
11 months ago
Comment: Failure above the mode led to my alternative uptrend path to be executed with precision.
This might be an intermediate term top.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803). KHL telegram group: https://t.me/joinchat/AAAAAAqHRWYvrLlfpF0StA
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