China A50, riding the PBOC stimulus
IF the monetary stimulus keep pushing Chinese stocks, we could be building a new impulse to retest the 16,500 area. If broken, it could speed up to 20,500 points.
What I find positive: lots of shorts still pressing the price to the downside, that could be gone if the price squeezed to the upside.
What I find negative: movement has been too fast, no rise-consolidation-rise patterns.
For confirmation, breakout above 14,500 (upper Mogalef band)
What I find positive: lots of shorts still pressing the price to the downside, that could be gone if the price squeezed to the upside.
What I find negative: movement has been too fast, no rise-consolidation-rise patterns.
For confirmation, breakout above 14,500 (upper Mogalef band)
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