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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

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Monday, March 25, 2019

Asian Markets Falter...China's Shanghai Index At Major Resistance

Judging by one-day percentages lost, Monday's market action was a bad day for Asian markets, as shown below.


China's Shanghai Index is facing long-term major resistance at current levels, as shown on the following weekly chart of SSEC.

I've shown the input values of the momentum (MOM) and rate-of-change (ROC) indicators as one period. They're both still below the zero level and have, in fact, been declining on recent attempts to move higher during March.

If price breaks and holds above, say, 3150,  I'd like to see both of these indicators also break and hold above zero, while making new highs, as well, to confirm the sustainability of any further meaningful advancement beyond that price.

Otherwise, look for this index to retest its last weekly swing low, or plunge lower, inasmuch as its stability at current levels is questionable.


And...now this...

Source: ZeroHedge.com