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Bullish Crab in the Shanghai Class A Index

INDEX:000002   SSE A SHARE INDEX
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The extension would be better if the Index went a little lower and bounced of the 2000 zone. Because a proper crab can get all the way down to 1.618 XA and 2.618 BC . But the index looks like it has found support at some shallower harmonic levels so I am issuing a bullish call to start building a position in Shanghai Class A Shares. A full position will be established if it does another dip to 2000.

If the cloud break occurs I think this index could have a sharp upwards reversal.

Comments

Agreed.
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