On weekly basis, we are already 21 bars into weekly MACD cross, another 5 more to go. We shall see how the market behaves. weekly and daily RSI 50 is at almost the same level of 3013. If Market is kind enough to give a retrace this could be a good reference point of entry.
Can consider taking ALL or 80% profits once index hits 3400. On the HK front, the ShenZhen...
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...
