Technical analysis

ChinaA50 Wave Analysis – 25 May, 2021

• ChinaA50 broke key resistance level 17600.00

• Likely to rise to resistance level 18625.00

ChinaA50 index earlier broke sharply above the key resistance level 17600.00 (which has been steadily reversing the index from the start of March).

The breakout of the resistance level 17600.00 accelerated the active short-term impulse wave (c).

ChinaA50 index can be expected to rise further toward the next resistance level 18625.00 (former monthly high from March).

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