China A50 - Hitting 5 Months Support

China A 50 have rebounded 5 times in the past 5 months when the price reached 10800. The market have not move out from the 800 points range since July.

Yesterday selling again brough the price to this price zone 10800 with a low at 10710 and quickly rebound. Trader please stay at the buy side if price moving higher high higher low.

The up swing projection as followed:

If price trade above 10880, target 10985.
If price trade above 10985, target 11090 to 11155 (major resistance)
If price trade above 11155, target 11429. (Second major resistance)

Price may correction after reaching any of the above target.

Trade fechado: objetivo atingido:

A50 have achieved all projection targets and hovering on major resistance 111500. Trader please cautious on the upside, as market did not move away from the range for the past 5 months.