CN50 to find support at previous swing low?
CHN50 - 24h expiry - We look to Buy at 13005 (stop at 12925)
We are trading at oversold extremes.
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Our short term bias remains positive.
The hourly chart technicals suggests further downside before the uptrend returns.
Further upside is expected although we prefer to set longs at our bespoke support levels at 13000, resulting In improved risk/reward.
Our profit targets will be 13205 and 13255
Resistance: 13660 / 14440 / 15080
Support: 12785 / 12400 / 11845
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). 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 Signal Centre.
We are trading at oversold extremes.
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Our short term bias remains positive.
The hourly chart technicals suggests further downside before the uptrend returns.
Further upside is expected although we prefer to set longs at our bespoke support levels at 13000, resulting In improved risk/reward.
Our profit targets will be 13205 and 13255
Resistance: 13660 / 14440 / 15080
Support: 12785 / 12400 / 11845
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). 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 Signal Centre.
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