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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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