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SSE

Shanghai Stock Exchange (SSE) : Bearish indicators as of 20 August 2009

Previously, my chart reading on SSE was inconclusive as my chart was not updated properly.

The Daily Chart is now showing a very bearish view for SSE.

1. Tenkan sen has cut Kijun sen on 13 August 2009

2. 2 days back, the price action has dipped below the kumo support  at 2788

3. Leading kumo is now twisting, suggesting that the overall trend is changing from bullish to bearish.

4. Put the 3 indicators together, and none of them suggest a bullish view. (Unless SSE is able to rally all the way out of the kumo). If not, the bearish view will persists.

2009Aug-Shanghai Stock Exchange-800x600