SSE had a rally from 2005 to 2007 establishing the all-time high of CNY 6,124.
After that, the price had built a weird corrective structure with ups and downs fading in magnitude over a very long period of time.
It took 17 years to complete the giant contracting triangle (white ABCDE marks).
The pattern was broken to the upside this summer.
This is the first harbinger of possible reversal and potential rally.
The confirmation we wait is the breakup of the peak of wave D beyond CNY 3,724
The conservative target for the upcoming rally is located at the all-time high of CNY 6,124
The ultimate target is set at the equal distance of blue wave (A) in blue wave (C) at CNY 8,660
After that, the price had built a weird corrective structure with ups and downs fading in magnitude over a very long period of time.
It took 17 years to complete the giant contracting triangle (white ABCDE marks).
The pattern was broken to the upside this summer.
This is the first harbinger of possible reversal and potential rally.
The confirmation we wait is the breakup of the peak of wave D beyond CNY 3,724
The conservative target for the upcoming rally is located at the all-time high of CNY 6,124
The ultimate target is set at the equal distance of blue wave (A) in blue wave (C) at CNY 8,660
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.