Advertisement
Advertisement

CHN50 Selling Continues After a Pullback

By:
Nenad Kerkez
Published: Sep 24, 2020, 06:39 GMT+00:00

Chinese index A50 is strongly bearish. We could see multiple rejections after some pullbacks and the price is at the important support. If we see a

China

In this article:

Chinese index A50 is strongly bearish. We could see multiple rejections after some pullbacks and the price is at the important support.

If we see a pullback towards POC1 or POC2 , new wave of sellers will probably start a fresh wave of selling. The first POC 15170-15215 has a confluence with 50.0 fib while the POC2 15310-15350 makes a confluence with the 88.6 Fib. Additionally, there is also an inner trend line whichs adds for a confluence and a retest of the POC2 offers a very good R:R for swing traders too. Targets are 15008 and 14970.

undefined

For a look at all of today’s economic events, check out our economic calendar.

 

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

Advertisement