Potential short-term bottom here based on Fibonacci and Fractals. After this extra leg down I expect that most people have already sold and the first are going to buy back. Also with the start of a new month we have fresh money which can flow in the market. There also two interesting technical ideas. We have a "Up fractal
of January 16" at 1359.9 CNY
and a "Fibonacci retracement of January 17" at 1347.3 CNY
. Both prices can be easily reached.
Current price while posting: 1343 CNY
Sunday, February 1, 2015, 09:05 UTC