Shanghai Stock Index

Shanghai stock market is approaching the critical 3000 level. The Shanghai market moved into “Bullish” phase since 10 Apr 09. There were corrections along the way up from 2444 to 2928. However corrections were shallow showing the strength of this rally.

No one knows exactly how far this rally will go but the bulls have the upper hand at this stage. Any pullback should see support at 2828 level, the previous pivot high.