Shanghai Index - Update

Back on November 11th I posted my reasons as to why I was turning bullish on the Shanghai stock index. There were many technical factors that were coming into play back then and as as you can see in the above chart the Shanghai index is now moving higher.

You'll notice the 1-2-3 bullish daily formation that was confirmed today when prices moved above point 2 which adds further evidence that this market wants to go higher. For those of you who are interested in my original comments back on November 11th, you can read them by simply clicking here.