ChinaA50 Wave Analysis 17 February, 2021

• ChinaA50 broke round resistance level 20000.00

• Likely to reach resistance level 21000.00

ChinaA50 index continues to rise after the price broke the round resistance level 20000.00 intersecting with the daily up channel from the middle of December.

The breakout of these resistance levels added to the bullish pressure on ChinaA50 index – accelerating the active impulse waves 5 and (3).

ChinaA50 index is likely to rise further toward the next resistance level 21000.00 (target price for the completion of the active sub-impulse wave (iii)).