CN50 rallies to continue attract sellers?

8월 13일

CHN50 - 24h expiry

Price action has continued to trend strongly higher and has stalled at the previous resistance near 11700.
RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move through 11650 will confirm the bearish momentum.

We look to Sell at 11700 (stop at 11760)
Our profit targets will be 11550 and 11450

Resistance: 11700 / 11750 / 11800
Support: 11600 / 11500 / 11450

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