The Shanghai index set a new low this year bottomed out at 2443.00 last Monday. Where price has surged nicely last week, ending the week with 5.5% gain. Now price has been trading just underneath key resistance for just a day now. With US election coming out bullish for the US market, the only major concern now in the global market is trade war.
Trade Step-ups:
Bearish Reversal: Price rejects a break from current resistance level. Profit levels to look for are 2580.00 & 2550.00 respectively.
Bullish breakout: Price breaks current resistance level, look for consolidation above 2680.00.
Trade Step-ups:
Bearish Reversal: Price rejects a break from current resistance level. Profit levels to look for are 2580.00 & 2550.00 respectively.
Bullish breakout: Price breaks current resistance level, look for consolidation above 2680.00.
Trade active:
Price back resistance level.