Shanghai Index Testing Key Resistance Level

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.


Shanghai Index Testing Key Resistance Level by EmpowerTrader


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.

Leave a Reply

Your email address will not be published. Required fields are marked *