The monthly chart of Shanghai index is showing that bulls are a little tired after going up for nearly 30% since March 2016. Look closely at the last closing candle, it is a doji pattern, a signal of indecision between bulls and bears. It can come down a little before going higher or push up a little more towards the 50% FIB level, perhaps matching the opening price of 3536 on 1st Jan 2016 before coming down.
See lower time frame for further explanation
See lower time frame for further explanation
Kommentera:
first target hit. nice long green, bullish candle. congrats to those who follow