Market Alert- CI broke 8-day MA & horizontal support

Due to external factors such as sharp rise in crude oil price and sharp drop in oversea stock markets, our CI has dropped substantially this morning. At 12.00 noon, CI has dropped 8.61 point to 917.94. As a result, the CI has broken its 8-day Moving Average ("MA") at the 923 mark as well as its strong horizontal support at the 919/920 levels (see Chart below). Unless a re-bounce happens later (or by Monday), the CI's current short-term uptrend appears to be over.


















Chart: CI's daily chart as at July 13