Daniel Ang

Selling Opportunity in China 50 Index. Sell Order Cancelled Mon, Feb 20, 15:32pm.

Chart CHINA50, D1, 2023.02.17 04:00 UTC, Blueberry Markets Pty Ltd, MetaTrader 4, Real

From the perspective of the daily time frame, the China 50 index decline from the 2021 high of 20594.00 is still in progress. This means this market remains bearish overall despite the sustained rally from the October 2022 low of 11157.07. This counter-trend rally may have peaked at 14442.61 on January 26 this year. 

The decline from there is probably just resuming and if there is a slight rebound towards, 13900, a selling opportunity may presents itself. 

TRADE IDEA

Sell @ 13893.00. Sell Order Cancelled Mon, Feb 20, 15:32pm.

Stop @ 14445.00

Target @ 12774.00