Technical Pulse: China Shenhua Energy Co Ltd August 20, 2019 158

Support 1: 15.84                     Resistance 1: 14.66


We expect China Shenhua (1088 HK) continued bearish momentum will continue based on the technicals:  

  1. Dark cloud cover the candle stick formation below the 50 SMA;
  2. Strong bearish candle closes below the 38.2 Fibonacci retracement and support level 1;
  3. Prices trends below both 50 and 200 SMA;
  4. Significant series of lower highs and lower lows and prices have been respecting the downtrend line.



Red line = 200 periods moving average

Blue line = 50 periods moving average

Green line = 22 periods moving average

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