Tuesday, August 22, 2006

Shanghai Composite

Shanghai Composite (Close - 1601.15)

A deadly trading day, index scrambled to close near the high of the day. For today, the 1580-1583 is going to be very critical and it should hold. If it breaks and trades below this, we are headed towards a new recent low below 1540. However, if the weekly charts are any indication, it should stand its ground for now with minor hiccups.

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