Friday, June 19, 2009

Red Alert!

SSEC Daily Chart

Daily chart shows that SSEC is now above the April-June channel. If this break is valid, look out for a rampaging China market! A break above 3000 will confirm a rampaging bull in China.

SSEC Weekly Chart
Weekly chart shows that critical resistance is nearby. 3000 is a difficult hurdle to jump over. Weekly RSI almost overbought. So, don't get too excited yet....

SSEC Monthly Chart
Monthly RSI, MACD and Stochastic all are moving up together. Good sign that the possible bull will be strong.
So, watch out on China play. Will it repeat the 2006-2008 period? I doubt so because so many people got burned. Anyhow, pay attention on China listed stock in HKSE especially those that is only listed in HKSE such as China Mobile (0941.HK). Do you remember the euphoria associated with the SSE listing of Petroch in 2007?

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