Breakout Confirmed Above January High – Eyes on 2024 HighsChina A50 CFDFOREXCOM:CHINA50tweshathembaPrice has now delivered a decisive close above a key resistance zone, defined by the January high at 15,801, with additional confirmation from the January high daily close at 15,677. This level previously acted as a strong ceiling, and the clean break above it signals a shift in market structure, with resistance now likely transitioning into support. What to Watch Next With this breakout in place, the focus shifts to a potential retest of the breakout zone. A controlled pullback into the 15,677 – 15,801 region, followed by a bullish reaction, would provide confirmation of strength and continuation. If this support holds, the next upside targets come into view: 16,156 – 2024 high daily close 16,322 – 2024 high This presents a projected move of approximately +2.7% from the breakout level. Market Outlook The structure currently favours continuation, but price behaviour around the newly established support zone will be critical. A strong hold and bounce would reinforce bullish momentum heading into the new week. Failure to hold this level, however, could signal a false breakout scenario, so price action here should be monitored closely. Summary Breakout confirmed above 15,801 resistance Support now sits at 15,677 – 15,801 Upside targets: 16,156 → 16,322 Potential move: ~2.7% Final Note Keep a close eye on price as we move into the new week. The reaction at this level will likely determine whether this breakout evolves into a sustained trend or stalls.