Shanghai Fails To Break Above Upwards Trendline

Last night the Shanghai Composite fell 4.8% in response to China's stronger than expected growth in GDP.

As the chart below illustrates, the Shanghai Composite recently broke below its uptrend which had been in place since the Summer. Last night's decline came as the index tried and failed to break back above the trend line.

click to enlarge

Comments

[rlirph:]

You would be correct if everything goes up and down in a straight line. Ever since moving to Guangzhou from Los Angeles last year I read the US readers' comments with amusements as most of them have not been here. They are writing comments which they are qualified...

2007 Oct 29 11:00 AM