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Sunday, May 24, 2015

Weekly Wrap

For the week ended May 22.

Shanghai Index resumed its uptrending and hit new high of 4657.6, after two weeks of retracement.

HSI within the consolidation range but the weekly candle shows it poised to move higher.

STI was trading within its 3-week range, unable to close above 3465 resistance level. Immediate support 3435.

The US DJI and SPX hit new high for the week then sold off close negative. The bulls look losing steam.

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