China50 to find buyers at previous swing low?CHN50 - 24h expiry
Selling posted in Asia.
We are trading at oversold extremes.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
The current move lower is expected to continue.
Previous support located at 12279.
Although the anticipated move higher is corrective, it does offer ample risk/reward today.
We look to Buy at 12280 (stop at 12160)
Our profit targets will be 12580 and 12660
Resistance: 12530 / 12750 / 12910
Support: 12245 / 11880 / 11690
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