I don't usually trade CHINA50, when it comes to China I prefer HK50, but this is an interesting set up/amazing buying opportunity:
- RSI is very low - 29 on daily chart, RSI was 24 few days ago.
- 11000-11100 is a strong support level. Even in March 2020 the index found support at 11500
- I'm aware of economic situation, but I still believe that recession will hit US and European market really bad in 2024/2025, but this will be opportunity for China to grow in strength
- bearish move might be not over yet but once the trend reverses, I believe it can easily start movement towards 15000-16000 (in next 12 months or so)
*This is not a trading advice. Trading is risky. Always do your own analysis before entering the market.*
- RSI is very low - 29 on daily chart, RSI was 24 few days ago.
- 11000-11100 is a strong support level. Even in March 2020 the index found support at 11500
- I'm aware of economic situation, but I still believe that recession will hit US and European market really bad in 2024/2025, but this will be opportunity for China to grow in strength
- bearish move might be not over yet but once the trend reverses, I believe it can easily start movement towards 15000-16000 (in next 12 months or so)
*This is not a trading advice. Trading is risky. Always do your own analysis before entering the market.*
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.