On 4th March this year, ChinaA50 broke a long term horizontal support zone @ F and proceeded to head lower until it came very near to the long term trendline support @ G (on 15th March)
For the past 2 months since it was in small monthly range consolidation and this month we start to see a break above last month's high (optimism!). Expect some resistance and consolidation as it approach the 14500 region (support turned resistance) but it is likely to break higher eventually.
I am optimistic that we are starting to see light at the end of the tunnel for the Chinese market, however it could still be some time before we have a stronger trend.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
For the past 2 months since it was in small monthly range consolidation and this month we start to see a break above last month's high (optimism!). Expect some resistance and consolidation as it approach the 14500 region (support turned resistance) but it is likely to break higher eventually.
I am optimistic that we are starting to see light at the end of the tunnel for the Chinese market, however it could still be some time before we have a stronger trend.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.