China A50 Bear Move Looks to Continue
The China A50, an index focusing on mainland stocks, rose impressively by 46% from September to its peak on Monday, October 7th. However, since then, the index has slumped by 17%, making it an exciting market to trade.
There is a risk of continued downside, as the price remains in a downtrend, and this will persist as long as it trades below the critical level at 14,569. The next support levels are at 13,259, followed by 12,747 and 12,024.
While a breach to the 14,569 level, the market may attempt to reach the October 8th high 16,111, especially if the Chinese government releases new details on its support programs.
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
There is a risk of continued downside, as the price remains in a downtrend, and this will persist as long as it trades below the critical level at 14,569. The next support levels are at 13,259, followed by 12,747 and 12,024.
While a breach to the 14,569 level, the market may attempt to reach the October 8th high 16,111, especially if the Chinese government releases new details on its support programs.
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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