Chinese stock market support levels are near

INDEX:XGY0   Shanghai Class A Idx
266 6 1
Here is a optimistic view of the market. There are many potential prices this market could soon bounce off for some time or even bottom on - ideally the oil             price also reaches a bottom around the same time.

Support levels:
  • 2949
  • 2912
  • 2888
  • 2849
  • 2806

Interestingly the RSI with period 20 has right now a value of exactly 50.05, which also means a neutral trend. Current monthly price as shown by Tradingview is 3075 points.

Conclusion: If the Chinese stock market stays above 2800 points there is a potential bottom and the market is a buy. But if it falls even below 2800 points it could fall much lower. In that case I'm going to a new analysis.

P.S. A log-scaled daily chart

these support levels had influence in 2007 and 2008

Comment: With only one day counted into the new month calculation (close of March 1st, 2016) - the month of March is now starting to look bullish for China:

Comment: One month later. Bespoke Investment Group writes in their blog:

"Even China is Rallying!" (March 21, 2016)
Is the last chart with the small buy/sell signals from the script you posted?
ChartArt Qiuness
Yes, it's directly from my script which you can get here:

The Shanghai Class A index is as of February 3, 2016 both above the 200 week moving average and above the 50 month moving average:

The trend is still above the middle of this regression trend:

ChartArt ChartArt
When drawing a parallel channel with the lows of close prices it's above the middle of this channel:

P.S. The close price today of the Shanghai Composite was 2749.79 points. The charts above are the Shanghai Class A index.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
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