Looking for CN50 to stall at resistance.

OANDA:CN50USD   China A50
CHN50 - 24h expiry - We look to Sell at 13105 (stop at 13205)

Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
The bias is still for lower levels and we look for any gains to be limited.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is expected although we prefer to sell into rallies close to the 13115 level.

Our profit targets will be 12815 and 12715

Resistance: 13110 / 13570 / 14235
Support: 12640 / 12070 / 11140

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