The Shanghai Stock Exchange Composite (SSEC) index is at a crucial crossroads with serious implications as to whether or not slower global growth is at hand. Take a look at where it currently is and continue to watch closely in the days ahead.
So says Chris Kimble (http://blog.kimblechartingsolutions.com) in edited excerpts from his post* entitled Shanghai index forming a very bullish pattern?
Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!), has edited the article below for length and clarity – see Editor’s Note at the bottom of the page. This paragraph must be included in any article re-posting to avoid copyright infringement.
Kimble goes on to say, in part:
The 18-month decline in the Shanghai index [see chart below] brought it down to the six-year support line (1) recently. While at this line the index might be forming a “Bullish inverse Head & Shoulders” pattern at (2), the global growth picture would benefit “IF” this pattern read is correct!
CLICK ON CHART TO ENLARGE
The worlds markets NEED the SSEC index to push higher from here. A break of support line (1) would reflect that the bullish pattern failed and send a signal that slower global growth is at hand!
Editor’s Note: The above post may have been edited ([ ]), abridged (…), and reformatted (including the title, some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.
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