Selling CHINA50 into trend of higher highs.CHN50 - 22h expiry - We look to Sell at 13310 (stop at 13445)
Buying pressure from 12917 resulted in prices rejecting the dip.
The current move higher is expected to continue.
Previous resistance located at 13304.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
Preferred trade is to sell into rallies.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
Our profit targets will be 12920 and 12660
Resistance: 13140 / 13615 / 14200
Support: 12660 / 12075 / 11120
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