FX.co ★ Elliott wave analysis of the Shanghai Composite index for August 29, 2023

The Shanghai Composite index has been locked inside a huge triangle consolidation since 2007. The triangle is not yet coming to an end, but still need to finish wave D near 3,990 followed by a minor decline in wave E 3,425 to complete the triangle and wave (B) before a new impulsive rally in wave (C). A rally that ultimately should push above the peak of wave (A) at 6,124.