Technical Analyst, Saxo Bank Group
CSI 300 Index testing 0.764 retracement of April sell-off. RSI is above 60 i.e. bullish sentiment indicating further upside possibly to test the key strong resistance at around 4,300.
IF the Index drops 4,059 the lower rising trend line is likely to be tested. If closing below the current short-term uptrend scenario is likely reversed.
The FTSE China A50 (future) is trading in a rising channel moving towards strong resistance at around 14,100. RSI is above 60 indicating the key resistance is likely to be tested and possibly rejected.
A break below 13,290 is needed for this scenario to reverse.
Hang Seng closed last week a few points above key resistance at around 21,588. RSI being above 60 threshold indicating we could see a move to test 22,600
A close below 20,884 is likely to reverse the short-term bullish outlook
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