China 4/2010

China is getting ready to breakout.

It may take one more pullback, but the breakout point is currently 3250. Buying the breakout would put the stops just below. With a tight triangle like this the 4250 target could be quickly attained. On a pullback, there is great support at 2985. Stops would be placed directly below that.

China

DCon't count China out quite yet. Shanghai is testing important levels with a confluence of support at the moving averages, downtrend backtest and a short term trendline. A conservative buy level is at 2700. The stop would be 2600. A test of the recent highs would be a minimum target.