CHINA50 to break to the upside?CHN50 - 24h expiry
A break of the recent high at 13506 should result in a further move higher.
A Morning Doji Star formation has been posted at the low.
The overnight dip has been bought into and there is scope for further bullish pressure going into this morning.
We look for gains to be extended today.
Buying continued from the 78.6% pullback level of 13375.
We look to Buy a break of 13511 (stop at 13412)
Our profit targets will be 13808 and 13858
Resistance: 13506 / 13647 / 13815
Support: 13375 / 13274 / 13137
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
