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FTSE China A50: 2 Month Uptrend Continues

By Stock MarketsJan 31, 2013 11:34AM GMT Add a Comment
 
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FTSE China A50
FTSE China A50

FTSE China A50 continued the 2 month up trend as we hit our next target at 9060. The lower close on the day could be an early warning that the market is running out of steam having been drastically over bought for a few weeks but this is not a sell signal.

So a push through 9060 then targets 9110 with 9130 then 9165/70 above.

A break of yesterday’s low however at 8930 sees us testing 8861 and the chance of a low for the day but if we continue lower we may test good support at 8739/8722 with little chance of further losses at this stage.
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