The Shanghai Market tested a low of 2566 on 3 July before rebounding to 2952 on 10 July. The index closed at 2801 on Friday. It looks likely to test its 50 day moving average which is at 2953.
The index is still in “Bearish” trend. If it can gather enough momentum to break the 50 day moving average, it will move into “Recovery” mode. The index entered “Bearish” mode on10 Mar 08 and has stayed in this mode for 99 trading days.
Let’s see whether the Olympics fever can help to propel the market higher next week.
The index is still in “Bearish” trend. If it can gather enough momentum to break the 50 day moving average, it will move into “Recovery” mode. The index entered “Bearish” mode on10 Mar 08 and has stayed in this mode for 99 trading days.
Let’s see whether the Olympics fever can help to propel the market higher next week.
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