Shanghai 'A' Shares Forming Triangle

01/04/2010 9:20 am EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

chart
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The daily chart of the Shanghai 'A' shares shows a triangle formation consistent with another push to the upside as it is a typical continuation pattern. Initial Fib targets are at 3920 and then 4250 with the triangle target at 4500. The OBV has already moved above the August highs and is acting stronger than prices.

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