Shanghai market has corrected more than 50% from its peak of 6124 set in October 16 2007. The index closed at 2669 on Friday.
The index entered “Bearish” phase since 10 March 2008. The bulls tried to bring the index above its 50 day moving average in May but couldn’t gather enough strength to make a breakthrough.
The index is now clearly below its 50 and 200 day moving average.
The index entered “Bearish” phase since 10 March 2008. The bulls tried to bring the index above its 50 day moving average in May but couldn’t gather enough strength to make a breakthrough.
The index is now clearly below its 50 and 200 day moving average.
No comments:
Post a Comment