China50 resistance continues to cap rallies.
CHN50 - 24h expiry - We look to Sell at 12495 (stop at 12595)
Selling pressure from 12536 resulted in all the initial daily gains being overturned.
A Doji style candle has been posted from the high. Our short term bias remains negative.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
Further downside is expected although we prefer to sell into rallies close to the 12500 level.
Our profit targets will be 12245 and 12205
Resistance: 12560 / 12750 / 12910
Support: 12245 / 11880 / 11690
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Selling pressure from 12536 resulted in all the initial daily gains being overturned.
A Doji style candle has been posted from the high. Our short term bias remains negative.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
Further downside is expected although we prefer to sell into rallies close to the 12500 level.
Our profit targets will be 12245 and 12205
Resistance: 12560 / 12750 / 12910
Support: 12245 / 11880 / 11690
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group
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