Shanghai Sock Exchange Composite (SSEC)

Shanghai Sock Exchange Composite (SSEC)

Significant break from the bullish Ascending Triangle pattern after close to 2 years of consolidation. 1st target set at 3,680 which is the confluence of the 261.80% Fibonacci projection and previous resistance set in late 2015.

If strong momentum persist, we could see the index trading towards the 2nd resistance at 4,000 which is the confluence of 423.6% Fibonacci Projection and previous resistance created in mid 2015.

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