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Should the World hope that the Shanghai Index holds on this 20-year support line?

Courtesy of Chris Kimble.

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The Shanghai Index has declined 20%+ in the past 14 months after it broke down from its multi-year flag pattern.  Once the Shanghai broke below the flag pattern last year, many markets around the world lost ground (see post here).

The decline now has it testing a support line (1), that has been in place for the past 20-years. 

The NYSE remains inside of a multi-year flag pattern at this time.

Bob Hope’s along with many around the globe that the Shanghai doesn’t break through this key support line!


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