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Saturday, July 11, 2015

Weekly Wrap

 For the week, Shanghai market had highest two consecutive days gain in six years. In total, SSE rebounded 5.2% reclaimed 3800 level.

HSI rebounded sharply too from its downside spike, left a huge tail candlestick.

STI lost 63 points to 3279.88 this week.
STI major resistance is at 3365, it has been consolidating in the range from 3365-3250 for more than a month already. 
 SSE formed a weekly hammer candle with a long tail,which is bullish signal. next target is 4200.
 HSI had its record biggest weekly swing of more 3425 points this week. left a huge long tail spike down. Next resistance 25000 then 26000 level.
Below chart is major indexes performance for the first half 2015, SSE up by 32.2% at end of June, where HSI gained 11.2%, STI is at bottom with loss of 1.4%.

Below chart is major indexes 2015 performance until Jul 11.

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