The extension would be better if the Index went a little lower and bounced of the 2000 zone. Because a proper crab
can get all the way down to 1.618 XA and 2.618 BC
. But the index looks like it has found support at some shallower harmonic
levels so I am issuing a bullish
call to start building a position in Shanghai Class A Shares. A full position will be established if it does another dip to 2000.
If the cloud break occurs I think this index could have a sharp upwards reversal.