China Crisis – Hyperoversold Calls For a Bounce

China Crisis – Hyperoversold Calls For a Bounce – Target

Posted by Clive P. Maund

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“Even during the worst declines within the 2008 crash, when the big bubble popped, the market was never as oversold as it is now, as we can see on the MACD indicator at the bottom of the chart. This is another reason that a sharp bounce here is likely, but it should quickly fizzle out perhaps in the 4000 area and reverse into another decline, as backed up selling hits the market again.”

…read the entire article including a chart showing the Shanghai composite at a solid level of support HERE

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