China: Hang Seng retreats

Hong Kong’s Hang Seng Index (monthly) broke resistance at 24000 after a strong up-trend, but this week retreated below the new support level. Expect a test of the rising trendline around 22000. A Twiggs Money Flow trough above zero would confirm long-term buying pressure.

Hang Seng Index

The Shanghai Composite Index (monthly chart) continues to range below resistance at 3100.

Shanghai Composite Index

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