My last post, Shanghai Composite: Following the plan, suggested an Inverse Head & Shoulders in the making, based on volume patterns. Sure enough, a right shoulder was formed, and then... Bam! A beautiful breakout on high volume. Ahh, the sheer beauty of technical analysis - don't you just love moments like this!
Target
Alright, the rough target of this move works out to be 3200 (already more than halfway there). Fits in very nicely with the wave D limit, based on the upper trendline of the Triangle that's forming over the medium term. See the previous posts on this topic for details.
All the best!
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