Mentorship

Mentorship

Shanghai

16 Jun 2015 ‚óŹ 05:24 AM

China has been on a dream run. And I have people asking me if I look at it. Well last year as it broke out of a triangle I put out a target of 3800, the rest is history. It did not make sense writing by standing in front of a running train. But now we can fit at least a channel on prices and as shown below we can mark the recent rally as 5 waves in maybe the Vth of the rise. I am not putting larger degree wave counts on this but this at least can allow for a pull back to the lower end of the channel. Today prices have fallen to the 20dma and a break of that level would be a good first sign of a reversal in the near term.

china160615

Comments (0)

Categories

Latest Articles