China A50 index (CN50) just completed a 1D Golden Cross yesterday as April's massive rally caused the 1D MA50 (blue trend-line) to cross above the 1D MA200 (orange trend-line) again, a little over a month after it lost it. Technically that is a very bullish formation.
The last two 1D Golden Crosses however turned out to be anything but bullish for the long-term. With the 1D RSI getting overbought (>70.00) on both occasions, those 1D Golden Crosses initiated long-term corrections that both reached the bottom of the Fibonacci Channel.
This time that bottom lies exactly on the previous Support (March 10 2026 Low) with a potential 14250 Target also raising the probability of a 1W MA100 (red trend-line) test, which has been intact for 13 months.
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The last two 1D Golden Crosses however turned out to be anything but bullish for the long-term. With the 1D RSI getting overbought (>70.00) on both occasions, those 1D Golden Crosses initiated long-term corrections that both reached the bottom of the Fibonacci Channel.
This time that bottom lies exactly on the previous Support (March 10 2026 Low) with a potential 14250 Target also raising the probability of a 1W MA100 (red trend-line) test, which has been intact for 13 months.
---
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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💸💸💸💸💸💸
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Disclaimer
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