Shanghai Fails To Break Above Upwards Trendline

Includes: CAF, CHN, FXI, PGJ
by: Bespoke Investment Group

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