CHINAH at Major Resistance – Is a Pullback Imminent?
CHINAH is currently testing a significant resistance zone, where previous price action has shown strong selling interest. After a sharp rally, the market appears to be overextended, increasing the likelihood of a pullback if sellers step in at this level.If the price confirms rejection from this resistance zone, we could see a move downward toward the 8,286.00 level, aligning with a potential short-term correction. However, a breakout above this resistance could signal further bullish momentum.
Keep an eye out for reversal patterns or bearish candlestick formations near this zone for potential short opportunities. Let me know your thoughts or if you see it differently!
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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.
FREE Trading Signals: t.me/danielmtrading
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.