Technical Forecast for FTSE China A50 for 3rd June 2013

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.