DJI Medium Term Update 🔭

To validate my SP500 count I looked into DJI and was pleasantly surprised to see that most of my previous labelling stands. Where DJI has diverged from SP500 is that it seems to be developing a more robust and clear ABC structure with a nice, pronounced expanding triangle in the middle as wave B. It should be noted that EW rules treat expanding triangle as the rarest out of three. Here, however, I think we are dealing with one of them.

If the analysis correct the market shall immediately sell off in wave 3 of C to a strong support level of 27470 formed by historical support/resistance and Fibo relationships.