Shanghai A share index weekly update (2013-07-05) – Rebound in a flat angle.

Shanghai A share index moved in a relatively small range last week. Low of the week is 2048 and high is 2116. Final close was at 2100. Trading volume was reduced.


In candle stick, it was a small white candle within previous bar’s range – an inside bar which may indicate change of direction. If the high of this week can be broken up, the rebound will continue and may challenge next resistance at 2160-2180 ( 20 day moving average and 38.2% retracement).


Again, we need to see the index to overcome 2262 and close above it or the overall trend for the index will remain bearish (target 1600).



Week Chart



Day Chart


Outlook Next week

Sidewalk with upper bound up to 2180. Bearish view maintained unless index can close above 2260.



2048 – Week low



2116 – Last week high

2160 – 20 days moving average

2180 – 38.2% retracement of wave 5-i to wave 5-iii, 20 days moving average

3 thoughts on “Shanghai A share index weekly update (2013-07-05) – Rebound in a flat angle.

  1. Daisidoi san, I read the monthly chart and daily chart of Shanghai composite index. I discover there is a double top appeared on (14-mar-2012 and 18-Feb-20130) daily chart and another one 31-07-2009 and 30-11-2010. Coincidently , both target position is 1425. A break lower than the lowest point in Nov-2008 (1678.857). It seems a strong signal that market black hand’s expectation. Thereafter, I will assume it is a reverse hand and shoulder to boost .

  2. I notice that your mentioned target (14xx) for Shanghai composite index is also a harmonic pattern – alternate bullish bat D point target, at which it could be the true bottom. It would be equivalent to 15xx for Shanghai A share index

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