Monday, June 22, 2015

Shanghai Index- 8th worst weekly decline in its history!

by Chris Kimble
joefridayshanghaideclinejune19CLICK ON CHART TO ENLARGE Joe Friday Just The Facts… The Shanghai index has had a rough week, down 13.32%. This was the 8th worst weekly decline in the past 25-years.
Any reasons this could be happening? Below looks at the Shanghai index over the past 20 years
shagnahi52weekrateofchangeatresistancejune19CLICK ON CHART TO ENLARGE Over the past 52 weeks, the Shanghai index was over over 130%. This huge gain was only surpassed by the rally into the 2007 top. The Shanghai index met dual resistance this week, one of them was at the top of a 20-year channel and a resistance line drawn off key lows in 2006 and 2009.


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