CSI 300 index intraday: the downside prevails as l

CSI 300 index intraday: the downside prevails as long as 5612.40 is resistance

CHINA300

Trading Central 2021-02-24 04:48:05

Our pivot point is at 5612.40.

Our preference: the downside prevails as long as 5612.40 is resistance.

Alternative scenario: the upside breakout of 5612.40, would call for 5652 and 5675.80.

Comment: the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. CSI 300 index stands below its 20 and 50 period moving average (respectively at 5637.96 and 5717.85).

Supports and resistances:

5675.80 **

5652.00 *

5612.40 **

5596.80

5579.67 last

5509.00

5485.40 **

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