CHINA50 to stem dip?CHN50 - 24h expiry - We look to Buy at 12845 (stop at 12755)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Previous support located at 12830.
The hourly chart technicals suggests further downside before the uptrend returns.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Preferred trade is to buy on dips.
Our profit targets will be 12995 and 13045
Resistance: 13180 / 13660 / 14440
Support: 12790 / 12400 / 11845
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