CN50 to break lower?
CHN50 - 24h expiry - We look to Sell a break of 12812 (stop at 12875)
Selling pressure from 13020 resulted in all the initial daily gains being overturned.
The current move lower is expected to continue.
Previous support located at 12812.
The medium term bias remains bearish.
Further downside is expected, however, due to the strong support below we prefer to sell a break of 12812, which will confirm the bearish sentiment.
Our profit targets will be 12630 and 12400
Resistance: 13180 / 13660 / 14440
Support: 12790 / 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.
Selling pressure from 13020 resulted in all the initial daily gains being overturned.
The current move lower is expected to continue.
Previous support located at 12812.
The medium term bias remains bearish.
Further downside is expected, however, due to the strong support below we prefer to sell a break of 12812, which will confirm the bearish sentiment.
Our profit targets will be 12630 and 12400
Resistance: 13180 / 13660 / 14440
Support: 12790 / 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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