Medium-Term Technical Outlook: FTSE China A50
![China A50 Weekly Chart China A50 Weekly Chart](https://d1-invdn-com.akamaized.net/content/pic0777d8cc3f8881eb7aee6bed04d95f49.png)
![China A50 Daily Chart China A50 Daily Chart](https://d1-invdn-com.akamaized.net/content/picedf14c96dbdd11f1f7b5b9c725940732.png)
Key Levels (1 to 3 months)
Bullish bias in any dips above 14170 key medium-term pivotal support for a further potential upleg up to test 14770 before targeting the next resistances at 16000 and 16420 next.
However, a break with a daily close below 14170 invalidates the recent bullish breakout for a slide back to retest the ascending trendline from 24 May 2019 acting as a support at 13560.
Key elements
- The FTSE China A50 has managed to stage a rebound of 1.19% today after a recent retest 3 days ago on the former range resistance of the 7-month “Ascending Triangle” range configuration from 24 May 2019 low. This observation suggests a positive follow-through that indicates a potential fresh round of bullish participation after the earlier bullish breakout from the “Ascending Triangle” range on Dec. 30, 2019.