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Shanghai Composite

INDEX:XGY0   Shanghai Class A Idx
After check some technical analysis and comparing it with the VIX             index I can conclude that Shanghai Index hasn't sink yet.

The VIX             index is pretty low compared to 2008/2009 levels but it's starting to fly again.

About it's chart we can see two possible situations. Seems like Shanghai Composite             is following 2 main channels.

I recommend to take a position after the breakout of any of this channels.

Also we could think the bullish channel is just a dead cat bounce, this could be true if it tries to fill the gap at 3240.

So I conclude Shanghai Composite             could keep going down if breaks the bullish channel making other index correct.

Regards.
Trade active: We broke down after a false breakout upside!
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