FTSE China A50 index intraday: the RSI is overbought

Trading Central 2021-01-13 04:49:05

Our pivot point is at 18885.00.

Our preference: the upside prevails as long as 18885 is support.

Alternative scenario: the downside breakout of 18885 would call for 18777.50 and 18715.

Comment: the RSI is trading above 70. This could mean that either prices are in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. FTSE China A50 index is above its 20 and 50 period moving average (respectively at 18606.42 and 18583.31). Finally, the FTSE China A50 index has crossed above its upper Bollinger band (18942.34).

Supports and resistances:

19290.00 **

19227.50 *

19162.50 **


18970.43 last


18885.00 **

The trading strategy containing reference trading prices and analysis opinions is provided by the third-party provider Trading Central.And the trading strategy is only the personal research and judgment by analysts,which is not a statement of facts.No representation or warranty is given as to the accuracy or completeness of this strategy. Consequently any person acting on it does so entirely at their own risk. TOP1 accepts no responsibility for any use that may be made of these comments and for any consequences that result.

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