China A50 Index: ⬆️ Buy
– China A50 Index reversed from support zone
– Likely to rise to resistance level 14800.00
China A50 index recently reversed up from the support zone located between the key support level 14200.00 (which reversed price sharply in March and April – forming Double Bottom), the lower daily Bollinger Band and the support trendline of the daily down channel from July.
The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Morning Star.
Given the strong upward momentum from the multi-month support level 14200.00, China A50 index can be expected to rise further toward the next resistance level 14800.00.