China A50 Index: Possible Up-trend

Published On: 4 August 2023, 3.00 PM | Jun Yuan Kwong, Dealer

Key Entry Price Pivot(s):
  • 13300
Recommended Trade:
  • Long above 13300, take profit at 13630/14260, stop loss at 13000

Alternative Case:
  • Short below 13000, take profit 12400, stop loss at 13300

  • China A50 Index had recently broken out the downtrend channel.
  • On 02 Aug 2023, China A50 Index pulled back and found a support at 13000. A strong bullish bar formed the next day.
  • We could potentially look to take a long trade on the China A50 Index since a strong bullish bar has already formed at the support level to continue the uptrend moving ahead.