Shanghai Stock Exchange (SSE)

Shanghai Stock Exchange Composite Index (SSE) Update: Rebound Expected towards 3,200

Technical Observation:
The Index is currently trading on a primary upward trend with secondary trend correcting towards current 3,100 level. As the index touches the lower uptrend line, we observed buyers halting the pullback and is especially obvious with recent Long-legged Doji appearing.

With this, we have technical reasons to believe that the index will be reverting back to its primary uptrend.

Traders can consider UETF SSE50China (JK8) listed on SGX for exposure in this bullish SSE setup.

Forecast (My View):
1st Target Price at 3,200 level
(61.80% retracement level)
2nd Target Price at 3,300 level
(100% retracement level)