The SSE Composite Index, the primary index of the Shanghai Stock Exchange, reflects the performance of diverse companies across various industries and serves as a gauge of China’s economy. It is calculated based on the market value and stock prices of these companies.
According to daily Cash Data (1D), the SSE Index, after a 36% rise from September 18 to 30, 2024, entered a corrective phase that has lasted about 4 months.
Based on the time and price similarity of the waves, it appears the correction is forming a diametric pattern. Wave (e) is likely complete, and wave (f) has begun. Wave (g) may end at 3,138 or 2,945, though the completion of wave (f) will allow a more precise prediction of wave (g) endpoint.
This diametric pattern will likely take another 2 to 3 months to complete..
According to daily Cash Data (1D), the SSE Index, after a 36% rise from September 18 to 30, 2024, entered a corrective phase that has lasted about 4 months.
Based on the time and price similarity of the waves, it appears the correction is forming a diametric pattern. Wave (e) is likely complete, and wave (f) has begun. Wave (g) may end at 3,138 or 2,945, though the completion of wave (f) will allow a more precise prediction of wave (g) endpoint.
This diametric pattern will likely take another 2 to 3 months to complete..
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.