Wednesday, April 13, 2011

Technical Snapshot: The Shanghai Flag

In last night's email I found a note from my friend and market technician Chris Kimble with a trio of China charts. He points out that the Shanghai Composite is up against the top of the flag pattern at the same time the China ETF (FXI) and Hang Seng index are likewise bumping into falling resistance. If long, Chris suggests, you might consider harvesting gains and waiting for these markets to prove themselves.

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