Technical forecast for FTSE China A50 for 3rd June 2013

china

FTSE China A50 resistance at 8077 with the outlook still quite negative so below here look for a test of last week’s low at 8045. A break lower this week is possible & should target good support at 8000. We look for a low for the day here as we start to become oversold in the short term so exit shorts & try longs with stops below 7970.

Above 8077 we run in to strong resistance at 8131 with a high for the day possible here. However any shorts need stops above 8155 for 8190 & a selling opportunity.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More