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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...
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Monday, February 07, 2022

China's Shanghai Index: Failure To Hold Its Launches

China's Shanghai Index (SSEC) is trading below major resistance around 3500 to 3600, as shown on the following monthly chart.

Past price spikes above that level have been relatively short-lived.

Any attempts to launch a third price spike may also fizzle. At the moment, the RSI is falling and is not signalling an imminent breakout on this timeframe.

Failure of price to break through and hold above 3600, then 4000, may see it retest 3000, or, even, 2000.

Either way, there is a lot of 'wiggle room' for erratic price spikes to occur in both directions on the SSEC over the coming months.