The Shanghai stock index has hit a barrier in the bounce and can go down following the S&P 500 trend of the last days, as the stochastic indicator shows.
China's government would have to do a lot to stop this trend. Let's see.
Global Share Slump Continues in Asia as Commodities Extend Drop
Manufacturing in China unexpectedly declined in July to a 15-month low.
www.bloomberg.com/ne...-to-oil-extend-drops
Entry: 4265 (better 4300)
1. Target: 3960
2. Target: 3725
UPDATE: 4 hours after I posted this chart. Bloomberg news:
China Stocks Sink Most Since 2007 as State-Induced Calm Shatters
China’s stocks tumbled, with the benchmark index heading for its biggest loss since June 2007.
www.bloomberg.com/ne...e-industrial-profits
UPDATE, 2 days later:
Target hit, dead on:
China's government would have to do a lot to stop this trend. Let's see.
Global Share Slump Continues in Asia as Commodities Extend Drop
Manufacturing in China unexpectedly declined in July to a 15-month low.
www.bloomberg.com/ne...-to-oil-extend-drops
Entry: 4265 (better 4300)
1. Target: 3960
2. Target: 3725
UPDATE: 4 hours after I posted this chart. Bloomberg news:
China Stocks Sink Most Since 2007 as State-Induced Calm Shatters
China’s stocks tumbled, with the benchmark index heading for its biggest loss since June 2007.
www.bloomberg.com/ne...e-industrial-profits
UPDATE, 2 days later:
Target hit, dead on: