In my earlier post I pointed that SHCOMP and SPX are at trendline support lines. while SPX has broken the trendline, China's SHCOMP moved up from those levels.
The candle formation is not bullish as of now till 3150 is crossed.
The Shanghai index is now at minor resistance line of 3130 which also looks like a triangle in formation. This also supports my elliot view that next upper wave is pending. Since China has been leading the world indices, we can see some upside worldwide. The main question is if the old top in China at 3400 is crossed.
Will update some time later on this index's elliot count.
The candle formation is not bullish as of now till 3150 is crossed.
The Shanghai index is now at minor resistance line of 3130 which also looks like a triangle in formation. This also supports my elliot view that next upper wave is pending. Since China has been leading the world indices, we can see some upside worldwide. The main question is if the old top in China at 3400 is crossed.
Will update some time later on this index's elliot count.
No comments:
Post a Comment