qlenium
Long

Expecting Short term rebound

INDEX:399001   SHENZHEN COMPONENT
1. Back at 2007/2008 Tops
2. At 2015 base formation support zone , broke lower support three times but bears failed to hold.
3. Break of falling wedge and failure to follow through may lead to bullish move.
4. Reached bearish 2.618 fib target.
5. After 6/19 plunge, Markets has been consolidating in tight range and hesitating to decline further - potential signs of bear exhaustion
6. Big end of month bullish candle - bull interest/ bears closing positions
7. RSI bullish divergence - market oversold, bears holding onto positions carry higher risk

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