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Shanghai Index has created a large multi-year flag pattern and is testing the support line of this pattern. A break of this support line would increase selling volume.
Could the Shanghai Cliff impact global markets? It would if this key support line doesn’t hold!
Brian….if one uses a fine point pen, the support line is broken. I prefer a crayon to draw the line( giving it some fudge room) and it is pushing this line to the limit. The fine point pen line came into place around 2,037, with it closing at 1991 today, this support line is NOT looking good!
Great eye Brian and Thanks for the viewership and kind words,
The Shanghai just closed at 1991. At what point would you say that this support line has been broken?
Love the blog!
I really appreciate your work & willingness to share your insights. You’re the best! :<)
Could you please comment on the cup & handle pattern that some technical analysts see developing on the gold & silver charts?
Thank you, Chanterelle