Once again pretty important level on the Chinese market. If the price can hold this level we could expect a rally to the top of the triangle, otherwise if it loses it, we will probably visit the lows. NFA
We are getting closer to a decisive moment for A50. Hold the box and run back to 13.4k-13.5k or lose it and go down to 12.6k. No trade zone now, wait for breakdown or breakup. NFA.
Previous H&S idea was invalidated, the price went testing the top of the descending triangle and seems to find some bid there. If we can rally from here we could visit again the range 14'750-15'000. If the price closes back below the triangle look for bearish continuation.
Price has tested support and rebounded on the descending triangle which was also the 200 SMA. I am expecting the price to raise from here and complete a possible right shoulder (neck at 14.3k). This could lead to a powerful breakout.
NFA.
A5 weekly chart level wave count: the white fourth wave WXY double three waves end. At present, the white fifth wave is yellow 12345 waves. When the yellow fourth wave of the next sub wave is corrected, wait to step back to pick up more
To celebrate the new year, here some TA on the China A50 index:
The breakout of the descending triangle led to a powerful rally that is still in full place and will most likely bring us to 15k. The golden cross (50 SMA crossing 200 SMA from below) could be the fuel to propel us there. 15k represents a major resistance, if broken on the first attempt (unlikely),...
In the chart above we are taking a look at CN1! in the 16 hour timeframe.
1. CN1! reaching an end to pennant formation in vital channel support.
2. Previous pennant breaks in current channel level has been bullish in the past.
3. Important to break past 13300 Supply Ceiling .
4. Channel deviation of 500 points .
5. Channel Above = 13800 - 13300 , Current...
HELLO GUYS THIS MY IDEA 💡ABOUT CN1! is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the sellers from this area will be defend this SHORT position..
and when the price come back to this area, strong sellers will be push down the market again..
DOWNTREND + SUPPORT from the past + Strong volume area is my mainly reason...
Publishing this chart to track the Chines A50 futures along with all my other tracks.
In my opinion we are headed to the 9800-10700 range before this is all over.
If the chinese housing implosion is as bad as many expect, this goes back to 7500 in the next 6-10 months.
For reference, look at these charts:
NASDAQ China Real Estate index
China Mainland...
A50 white second wave correction has a high probability of ending, and the third white wave is optimistic in the later stage. From the perspective of entanglement, the current center + A intraday chart has closed the bottom type, MACD golden fork, waiting for an upward stroke to leave the center, looking forward to getting out White b segment market.
The China a50 is under the weekly 50 SMA and near the 200 weekly SMA. The SPX500 isn't even at the 50 weekly SMA. Usually world markets, eventually, follow each other.
The China A50 has been underperforming for a year. if these trendlines are breached, you could see a quick 1000 point fall. This would spook other world markets.
lets see if we get the trend change watching pull back for higher low support and big ass red volume stick to confirm if it holds... that would make a higher low and super bullish.
