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SHANGHAI COMPOSITE INDEX...WORST TO BE OVER IN CHINA SOON


WORST TO BE OVER IN CHINA SOON


After huge sell off in Chineses Market from its recent top 5178.19 Shanghai Composite has taken support near its breakout level at 3000. As per the daily chart Shanghai Composite is consolidating in range of 3200-2800.

As per the Monthly and Yearly data statistic we are seeing limited downside & fresh huge upside in Shanghai Composite. We see as per data statistic 2800/2600 levels are very strong support levels. Incoming period any positive close above 3200 level will opened up the upside target levels up to 3600/4000 in Shanghai Composite .

Moving Averages:
As per the weekly/Monthly charts 100 weeks & 100 Months averages is showing strong support near 2800 level.  Going ahead 2800, level will hard to break and it will perform as rock bottom for coming up surge.

RSI: On Daily /weekly time frame RSI Indicator has reversed from oversold level, which will result in sharp positive bounce in Shanghai Composite.


Weekly  Close

No

Date

Price

Change %

1

Sep 13, 2015

3084.26

-3.62

2

Sep 06, 2015

3200.23

1.27

3

Aug 30, 2015

3160.17

-2.23

4

Aug 23, 2015

3232.35

-7.85

5

Aug 16, 2015

3507.74

-11.54

6

Aug 09, 2015

3965.33

5.91

7

Aug 02, 2015

3744.2

2.20

8

Jul 26, 2015

3663.73

-10.00

9

Jul 19, 2015

4070.91

2.87

10

Jul 12, 2015

3957.35

2.05

 

 

 

 





Monthly Close

No

Date

Price

Change %

1

Aug 01, 2015

3205.99

-12.49

2

Jul 01, 2015

3663.73

-14.34

3

Jun 01, 2015

4277.22

-7.25

4

May 01, 2015

4611.74

3.83

5

Apr 01, 2015

4441.66

18.51

6

Mar 01, 2015

3747.9

13.22

7

Feb 01, 2015

3310.3

3.11

8

Jan 01, 2015

3210.36

-0.75

9

Dec 01, 2014

3234.68

20.57

10

SHANGHAI COMPOSITE INDEX (WEEKLY CHART)



SHANGHAI COMPOSITE INDEX (MONTHLY CHART)

























Disclaimer:All information given here is largely based on technical analysis which is highly dynamic in nature and relevant only at a particular point of time. Users are advised to pursue these recommendations only at their own risk and first consult their personal investment advisor when making investment decisions. We are not liable and we take no responsibility for any loss that you incure by trading/investing on our recommendations. these study are posted for educational purpose only.