ftsexinhua china a50 daily outlook for 21 jan potential intermediate decline to resume below 10750 8
<p> Key elements The 34-period Moving Average is acting as a resistance at 10750. The 10750 level also coincides closely with the 38.2% Fibonacci retracement […]</p>
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Key elements
- The 34-period Moving Average is acting as a resistance at 10750.
- The 10750 level also coincides closely with the 38.2% Fibonacci retracement from 16 January 2015 high to 19 January 2015 low.
- The Stochastic oscillator still has room for some “potential downside” before reaching the oversold region.
Key levels
Pivot (key resistance): 10750
Support: 10240/10140
Next resistance: 11100
Conclusion
As long as the 10750 daily pivotal resistance is not surpassed, the China A50 Index is likely to shaped a decline towards 10240/10140
On the other hand, a break above 10750 is likely to see a push up towards the 11100 weekly pivotal resistance.
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The information contained in this material is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs. All queries regarding the contents of this material are to be directed to City Index Asia Pte Ltd.
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