ChinaA50 - Appears to be in early phase of recoveryOn 4th March this year, ChinaA50 broke a long term horizontal support zone @ F and proceeded to head lower until it came very near to the long term trendline support @ G (on 15th March)
For the past 2 months since it was in small monthly range consolidation and this month we start to see a break above last month's high (optimism!). Expect some resistance and consolidation as it approach the 14500 region (support turned resistance) but it is likely to break higher eventually.
I am optimistic that we are starting to see light at the end of the tunnel for the Chinese market, however it could still be some time before we have a stronger trend.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
