Shanghai decline

China’s Shanghai Composite Index found short-term support at 2030 on Tuesday, but another test of the primary level at 1950 appears inevitable. Declining 13-week Twiggs Money Flow warns of selling pressure. Breach of support at 1950 would offer a target of the 2008 low at 1700*.

Shanghai Composite Index

* Target calculation: 1950 – ( 2200 – 1950 ) = 1700