Technical Analysis – CHI 50 index faces strong resistance at 50- and 100-day SMAs

CHI 50 index is capped by the 50- and 100-day simple moving averages (SMAs) and the Ichimoku cloud after the upside recovery from the 12,528 support level. The short-term upside tendency is confirmed by the technical indicators. The MACD is extending its bullish move near the zero line, as it holds above its trigger line. […]