Shanghai may find support around 3400
Started by
Russ
, Jun 04 2007 11:00 PM
4 replies to this topic
#1
Russ
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Posted 04 June 2007 - 11:00 PM
Interesting that in Asia they use red for the up candles, because according to ancient Chinese science red is the most energetic color, in the west we associate red with fire, blood and violence, danger etc. There is an interesting book called the Stone Monkey that goes into it all.
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#2
Mtrader
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Posted 05 June 2007 - 12:16 AM
3175 is strong support. I look for reversal at 3281.
Man. Correction is fast and furious. The recovery is just as fast.
You are on your own. This is for demonstration only.
JV
JV
#3
Russ
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Posted 05 June 2007 - 12:20 AM
3175 is strong support. I look for reversal at 3281.
Man. Correction is fast and furious. The recovery is just as fast.
I agree there is more support down there, short term the current level may hold.
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#4
Mtrader
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Posted 05 June 2007 - 01:04 AM
Looks like it holding for now. Nice candle.
PPT is buying like crazy over here in US. Man, 13750 on the Dow here we come.
You are on your own. This is for demonstration only.
JV
JV
#5
SandStorm
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Posted 05 June 2007 - 03:52 AM
3483 is a 50% fib retrace, a strong support. There should be lots of churning as Shanghai tries to find bottom but the low most likely had been made.
BTW red implies "big happiness." In traditional Chinese wedding ceremonies both bride and groom wear red. In celebration big and small esp. the new year you will usually see lots of red color decorations.
I have no idea why down is green though.
Edited by SandStorm, 05 June 2007 - 03:54 AM.
