Saturday, September 12, 2009

Shanghai Composite Views!!!

Shanghai Composite (SC) has successfully for now not only defended the 200 periods MA but also retraced 38.2% from the lows! It is now staring back at support turn resistance at 3000 mark! A break above form here can go to 3155/80. On the other hand a failure here will necessitate a retest of the 200 MA!



Btw I have marked a positive divergence in the green arrows just to illustrate how the divergence works and why it’s many a times called a leading indicator!



No comments: