SSEC may have broken above its downtrend line

SSEC broke above its downtrend line at 3250 yesterday. With this breakout, SSEC's uptrend will continue. Its next resistance is at 3500, 3800 & 4200-4300.


Chart: SSEC's daily chart as at 16/11/2009 (Source: Stockcharts.com)

The continuation of the rally in the Shanghai market will come as a relief to investors and punters who were worried that the prolonged consolidation could affect sentiment in our market.