The Shanghai Composite Index Begins to Fall

SHCOMP CHART PRICE – SHCOMP 4H

The trumpet of the Bollinger Band has begun to visibly shrink. MACD shows a death cross, which shows the start of a big fall on the Shanghai Composite Index. From the 4 hours chart, the double top pattern has been formed, which is a reversal signal of a bearish trend, and the volume on the second top has been shrunk compared to the first top. 

The important resistance level at the top: 3461

The important support level at the bottom: 3262, 3200

This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.