Bearish divergence on Chinese stock markets indices

In line with new data showing some slowdown in Chinese 70 big cities’ real estate prices growth, the Chinese stock markets indices lost some ground. While looking at the chart of the Shanghai Composite (SSE), one can notice a bearish divergence between the price and the RSI and from June 29, 2017 at 3668 EOD to July 14, 2017 at 3703 EOD, also confirmed by the stochastics. The same configuration, with less bearish pressure however, appears on the Shanghai & Shenzhen 300 (SHSZ300).

SSE – Tradingview.com

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