Selling CN50 into rallies.

OANDA:CN50USD   China A50
CHN50 - 21h expiry - We look to Sell at 12765 (stop at 13010)

Buying pressure from 12189 resulted in prices rejecting the dip.
The current move higher is expected to continue. Trading within a Bullish Channel formation.
Our expectation now is for this swing higher to continue towards the top of the trend channel, to complete a correction before sellers return.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.

Our profit targets will be 12065 and 11120

Resistance: 12660 / 13140 / 13610
Support: 12075 / 11120 / 10490

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