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Recount WAVE 5 (Bearish Market)

INDEX:XGY0   Shanghai Class A Index
99 1 1
- Compare WAVE 3 & 5's MACD , WAVE 5 lost momentum compares to WAVE 3, double top formation
- Both Wave 3 of WAVE 5 & Wave 3 of WAVE 3 has RSI extreme reading, support Wave 3 count makes sense
- RSI trendline broke and now RSI is below 50 on weekly chart, which is really bearish
- Comparing time circle of WAVE 3 & 5, it shows WAVE 5 is shorter than WAVE 5 on time period
- Forecast its target on WAVE 4's low which is 1935, according to EW guideline
snapshot

WAVE 5 zoom out
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