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...
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....
