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China has become a spotlight of the world market. It is important to scan the China Stock Market to understand the market trend.
China Shanghai Stock Exchange Composite Index Scan
From June 2015, the China market has been on a bearish trend. within a month the SSE Composite Index has returned to near starting point of 2015. Why? Many of you can have a look of the China market fundamental, the macro economy. You many find answer for today, as well as the future. However, if you only look at from a technical standpoints, you may just find that when the price goes up eventually it has to pull back. The only thing is how far will it pull back. Of course, after enough pull back it will spring back up again. Eventually, it may over take the last high.
Let review the last candlestick, what have you seen here? From the colour candlestick, you can easy find, the index open low and closed high, bull won. The candlestick has a tail, not short. about one third of the body, the bull has a hard fight to push back the bear.
August 19, 2015 China Shanghai Stock Exchange Composite Index
A closed up View
From the swing high to low you can find the find the index resisted near 50 percent. Follow the swing low to high the index supported at 78.6 percent.
What will happen? Visually, you can find River continue to act as any resistance to stop index from traveling north.
August 19, 2015 China SSE Composite Index
Thanks for visiting the website.
Moses
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