China A50 - Price again found low at 5 Months support

As market near to end of the year, "window dressing" seasonal behavior have high chance to occur. Major markets have traded approach the previous low and indicate temporary support.

A50 has again trading near to 5 months support as show in the left chart. And higher high higher low set up on the lower time frame. Trader may look for long opportunity with the price target as following:

The up swing projection as followed:

If price trade above 10947, target 11011 (first target)
If price trade above 11011, target 11114 (second target)
If price trade above 11114, target 11280 (third target)
If price trade above 11280, target 11549 (fourth target, major resistance)

Price may correction after reaching any of the above target.

Komentar:

Price traded lower low, above projection have invalid.