China A50 index reaches new low levels

Note: This section contains information in English only.
Source: Dukascopy Bank SA


At the start of March, the China A50 stock index plummeted below the 2019 high and 2021 low level. The event resulted in the index sharply reaching below the 12,500.00 level, before an assumed intervention by the Chinese government. Namely, the government propped up stock markets and caused a surge to the 14,000.00 level.

However, the 14,000.00 level is where the selling started, and by March 29, the index had reached below 13,500.00.

If the index continues to decline, the Chinese stocks might look for support in the 13,000.00, 12,500.00 and the 12,000.00 levels, before the 2020 low level at 11,600.00 is reached.

However, a potential surge of the index is expected to find resistance at 14,000.00. Higher above, note the 50-day simple moving average near 14,500.00 and the 2019 high and 2021 low level at 14,615.00.
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