Technical Analysis – CHI 50 index fights with 200-SMA after rebound on 8-month low

Posted on February 11, 2020 at 11:12 am GMT

China’s 50 stock index (CHI 50) has rebounded somewhat after falling to the eight-month low of 12,520 on February. Currently, the price struggles beneath the 200-day simple moving average (SMA), which overlaps with the area of the 23.6% Fibonacci retracement level of the up leg from 10,197-14,678 of 13,621 and the 13,570 barrier. The momentum indicators now suggest that the market sentiment might get better as the RSI is approaching the positive territory as it flirts with the 50 level. [..]


Technical Analysis – CHI 50 index dives below 200-day SMA; bearish mood to persist

Posted on January 27, 2020 at 10:34 am GMT

China’s 50 stock index (CHI50) opened with a gap down on Monday and below the 200-day simple moving average (SMA) after posting its sharpest weekly loss in almost a year. The bears are currently pushing efforts to close below the 38.2% Fibonacci of the upleg from 10,197 to 14,678 and although the RSI and the Stochastics are flashing oversold conditions, the short-term indicators are still pointing downwards along with the MACD, all providing negative warnings for the coming sessions. Yet, room [..]


Technical Analysis – CHI 50 stock index targets 2019 peak but bulls may lose momentum

Posted on December 31, 2019 at 10:02 am GMT

ChIna’s 50 stock index (CHI50) closed the year slightly below the 2019 top of 14,456 on Tuesday. Technically, the positive momentum in the MACD, which jumped above its red signal line, suggests that there is still some room for improvement in the short-term. The RSI is bullish as well, though the indicator is not far below its 70 overbought mark which previously acted as resistance, hinting that any additional upside move may come softer in the coming sessions. Therefore, in [..]


Technical Analysis – CHI50 index remains positive; bulls falls short of the April 2019 high

Posted on October 14, 2019 at 3:35 pm GMT

CHI50 stock index seems to have lost some momentum as sellers reversed the index back down to the previous peak of 14,068 from July 1. The rally from the low of 13,373, failed to reach the April 2019 high of 14,239, but persisting positive signals keep it intact. The short-term oscillators reflect a stall in price. The MACD is deep in positive territory and has started to turn down, towards its red trigger line. The RSI, although having declined marginally [..]


Technical Analysis – CHI50 index set for more upside; strong resistance around 14,060

Posted on September 13, 2019 at 12:34 pm GMT

China’s 50 stock index (CHI50)  made a U-turn near the 50-period simple moving average (SMA) in the four-hour chart and is building momentum to reclaim strong resistance around 14,060. According to the RSI and the MACD there is more upside in store as both indicators point upwards in the bullish area, while in Ichimoku indicators, the red Tenkan-sen is ready to surpass the blue Kijun-sen line, embracing the positive spirit as well. It is also worth mentioning that the RSI [..]


Technical Analysis – CHI50 stock index flies to new 1-year peak but enters overbought zone

Posted on April 10, 2019 at 9:17 am GMT

China’s 50 stock index experienced fresh buying interest after beating resistance around the 13,100 level, with the price spiking to a new one-year high of 13,917 early on Wednesday. While the RSI and the stochastics warn of an overbought market and the MACD suggests a softer trading in the short term as the indicator seems to be losing steam above its red signal line, the market needs to weaken back below 13,100 and the 20-day moving average for traders to resume cautious behavior. The [..]


Technical Analysis – CHI50 stock index flirts with long-term downtrend line; neutral to bullish in short-term

Posted on August 27, 2018 at 10:50 am GMT

China 50 stock index (CHI50) resumed its bullish mode after it failed to break a strong support at the 18-month trough of 10,826 first reached in early July, rising back above the 11,000 handle. Momentum indicators have improved as well, with the RSI surpassing slightly the 50 mark and the MACD increasing strength to the upside and above its red signal line. However, these could be considered weak bullish signals for the short-term given that both indicators hold near their neutral thresholds [..]


Technical Analysis – CHI50 stock index heads higher but bears still sneaking around

Posted on April 10, 2018 at 8:25 am GMT

The China A50 stock index (CHI50) did little to gain ground after it hit a 5 ½-month low of 12,269 at the end of March, with the index posting moderate moves since then to create a base around that trough. The market is currently trying to surpass its 200-day simple moving average and the technical indicators are somewhat supportive but positive signals are too weak to paint a bullish picture. The RSI is slowly moving to the upside and the MACD is increasing positive [..]


European Open Preview – Dollar loses ground as US Treasury yields retreat further; focus on Powell

Posted on February 26, 2018 at 9:09 am GMT

Here are the latest developments in global markets: FOREX: The dollar index which tracks the strength of the dollar against a basket of six major currencies opened lower in Asia, touching a session-low of 81.67 (-0.25%). Dollar/yen slipped to a one-week low of 106.43, while aussie/dollar and kiwi/dollar were the best performers, with the former peaking at 0.7880 and the latter surging to 0.7336. Pound/dollar bounced back up to 1.4015 and euro/dollar managed to pare Friday’s losses, returning to 1.2327. [..]


European Open Preview – Dollar hits 3-week low as commodity currencies gain ground

Posted on December 27, 2017 at 8:31 am GMT

Here are the latest developments in global markets: FOREX: The dollar index continued retreating, recording a three-week low. Meanwhile, commodity currencies, including the loonie, aussie and the kiwi, were posting multi-week highs versus the greenback. STOCKS: The Nikkei 225 closed 0.1% higher. The Hang Seng was down by 0.1%, while the Shanghai Composite lost 0.9%. Euro Stoxx 50 futures traded higher by 0.1% at 0728 GMT, with Dow, S&P 500 and Nasdaq 100 contracts all being roughly flat. COMMODITIES: WTI [..]

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