technical analysis chart

Technical Breaks, Ideas and Insights – SHANGHAI Composite China Positive Break

The Shanghai Index made a positive break recently by breaking upwards through the downwards sloping resistance line at 3240.00.
This is also a breakout of a large triangle which usually leads to a positive move.
The Index could potentially test the resistance level at 3500.00 and if breached to the upside it could lead to a rally testing the 3720.00 resistance level, in our view. This report provides a technical analysis of Shanghai Composite Index.