SSEC (Shanghai Composite) - Buy on dips?

In this post I am analyzing the hourly and daily charts for SSEC. It looks like SSEC has completed minor 5 waves from the bottom at 2851 on 26th August up to recent top at 3256 made on 9th September. The index is currently retracing this impulse move. If this analysis is correct, prices are likely to move up without breaking the low of 26th August.

On the daily chart below, it is possible that entire move starting from the top at 5178 on 12 June 2015 may have been completed at the recent low of 2851 (c is 61.8% of a).

Going ahead there are numerous possibilities. But short term it looks like SSEC is presenting a buying opportunity on dips.

WTI Crude

This is in continuation of the analysis done on 31/8/2015 (here). Now short term on hourly chart it looks like the prices are moving in a contracting triangle in wave b. Following the completion of wave b prices are likely to move down as part of wave c of blue wave ii/b, before proceeding up again. The contracting triangle as shown in red b is also seen to have formed in RSI momentum indicator. The likely target/s for completion of wave ii/b can only be arrived at once red wave b is complete. The current estimate is between 39-40.

 

NSE Nifty - Head and Shoulders Pattern

It seems like NSE Nifty may have broken down from the neckline of the head and shoulders pattern as seen on the chart below. Extreme care is warranted.