In this blog post, we will discuss about the short to medium term Price Objectives for China A50 Cash and Wall Street 30 Cash Indices.
As of now i.e, at the time of writing this post, China A50 Cash index is trading at 15,542.30 and Wall Street 30 Cash Index at 34,646.60.
First we will have a deep look through our Proprietary Price Action Technical Analysis for China A50 Cash index as below:
1. Last week, China A50 Cash index’s weekly price has broken to the upside (it has closed above but the high of the weekly bar is not yet taken out) a down trend line at 15,143.60
2. Last to last week, China A50 Cash index’s weekly price has got a bounce from its moving average at around 14,301 price level.
3. As of now, China A50 Cash index has to close above and stay above the immediate resistance at 15,600 price level.
If China A50 Cash index closes above and stays above the immediate resistance at 15,600 price level then our price objectives for China A50 Cash index would be as below:
1. China A50 Cash index’s price objective 1: 15,714
2. China A50 Cash index’s price objective 2: 15,873
3. China A50 Cash index’s price objective 3: 16,029
4. China A50 Cash index’s price objective 4: 16,054
5. China A50 Cash index’s price objective 5: 16,487
6. China A50 Cash index’s price objective 6: 16,512
7. China A50 Cash index’s price objective 7: 16,996
8. China A50 Cash index’s price objective 8: 17,037
Secondly, we will have a deep look through our Proprietary Price Action Technical Analysis for Wall Street 30 Cash index as below:
1. Last week, Wall Street 30 Cash index’s weekly price has broken to the down side (it has closed below but the low of the weekly bar is not yet taken out) a up trend line at 35,179.22
2. Last week, Wall Street 30 Cash index’s weekly price did a crack and snap back at 35,093.20 price level.
3. As of now, Wall Street 30 Cash index has to stay below the immediate resistance at 34,751 price level.
If Wall Street 30 Cash index stays below the immediate resistance at 34,751 price level then our price objectives for Wall Street 30 Cash index would be as below:
1. 34,463
2. 34,331
3. 34,145
4. 34,024
5. 33,956
6. 33,740
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