Shanghai Market is among the better performers in 2009. The Shanghai composite index has managed to stay in “Recovery” mode since early Jan 2009.
The index is now sitting between the 50 day and 200 day moving average. The index climbed from a low of 1664 to hit a high of 2402 before pulling back to current levels. That is a gain of almost 45% in a span of about 5 months.
The slope 50 day moving average is turning positive which is a good sign. The 200 day moving average is still moving with a downward bias.
The index will have to go above 2359 in order to move to “Accumulation” phase. Let’s see what happen this week.
Have a great time trading the market and remember to follow the trend.
The index is now sitting between the 50 day and 200 day moving average. The index climbed from a low of 1664 to hit a high of 2402 before pulling back to current levels. That is a gain of almost 45% in a span of about 5 months.
The slope 50 day moving average is turning positive which is a good sign. The 200 day moving average is still moving with a downward bias.
The index will have to go above 2359 in order to move to “Accumulation” phase. Let’s see what happen this week.
Have a great time trading the market and remember to follow the trend.
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