ChinaA50 Wave Analysis 12 October, 2020

• ChinaA50 broke daily Triangle

• Likely to rise to 16400.00

ChinaA50 recently broke the resistance trendline of the daily Triangle from July – which accelerated the active impulse wave 3.

The price is currently trading near the key round resistance level 16000.00 (top of wave 1 from August).

If the price is able to break above the resistance level 16000.00 – ChinaA50 will then, most likely, rise to the next powerful resistance level 16400.00 (multi-month high from the start of July).