Shanghai’s Composite Index is testing support at 3100. Twiggs Money Flow recovered above zero but buying pressure remains weak. Breach of 3100 would warn of a primary down-trend.
* Target medium-term: May 2016 low of 2800
Hong Kong is faring better, with the Hang Seng index recovering above 24000 to signal a fresh advance.
India’s Sensex is testing major resistance at 30000. Rising Twiggs Money Flow indicates medium-term buying pressure. Breakout is likely and would offer a target of 32000*.
* Target medium-term: 29000 + ( 29000 – 26000 ) = 32000