FTSE China A50 index ST: the upside prevails as lo

FTSE China A50 index ST: the upside prevails as long as 19105.72 is support

CHINA50

Trading Central 2021-02-20 07:34:06

19105.72 is our pivot point.

Our preference: the upside prevails as long as 19105.72 is support.

Alternative scenario: below 19105.72, expect 18414.11 and 18003.47.

Comment: the RSI is above 70. It could mean either that the index is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. FTSE China A50 index is trading above both its 20 and 50 period moving average (respectively at 18927.29 and 18046.81).

Supports and resistances:

22137.80 **

21718.93 *

21300.06 **

20879.19

19998.12 last

19376.87

19105.72 **

Disclaimer

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