CHINA 50 Key Support Still Holding

Looks like a double bottom forming at 16900. Price seems to be trading sideways in a narrow range between 16800 – 17800. At these levels, the Chinese index looks more attractive in terms of risk and reward. I’ll look to buy between 16400 – 16900. On last friday, we saw a lot of volatility, especially with the Chinese tech stocks selling off hard. We dippe below 16800 for a few hours but there was no follow through. We eventually saw buyers jumping back in pushing the index to end with an impresssive 2.53% on the day. This week will be curial to see wheather a bullish reversal will materialize. On the other hand, price could see continued selling pressure this week. Nevetheless, 16800 is the main level to keep an eye on right now.


CHINA A50 Double Bottom by EmpowerTrader on

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