CN50 dips to continue attract buyers?

27 de ago.

CHN50 - 24h expiry

Indecisive price action has resulted in sideways congestion on the intraday chart.
RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending.
Risk/Reward would be poor to call a buy from current levels.
A move through 11850 will confirm the bullish momentum.
The measured move target is 12000.

We look to Buy at 11750 (stop at 11670)
Our profit targets will be 11950 and 12000

Resistance: 11850 / 11950 / 12000
Support: 11750 / 11700 / 11650

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