I'm Brandon, a senior stockbroker at a local securities firm and also a professional trainer with Singapore Exchange (SGX) Academy. Holder of Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) with over 10 years experience in the financial industry.
This blog aims to share how private traders can forecast price and trade in line with the market and smart money by applying Wyckoff principles and simple technical analysis techniques.
Wednesday, 18 January 2017
Shanghai Stock Exchange (SSE)
The Index is currently trading on a primary upward trend with secondary trend correcting towards current 3,100 level. As the index touches the lower uptrend line, we observed buyers halting the pullback and is especially obvious with recent Long-legged Doji appearing.
With this, we have technical reasons to believe that the index will be reverting back to its primary uptrend.
Traders can consider UETF SSE50China (JK8) listed on SGX for exposure in this bullish SSE setup.
Forecast (My View):
1st Target Price at 3,200 level
(61.80% retracement level)
2nd Target Price at 3,300 level
(100% retracement level)