Hang Seng China Enterprise Index is coiling up for a big move Long

Hang Seng China Enterprises Index (HSCEI) FuturesHKEX

Description

⋅ Apr 29, 2021 12:11 PM

Volatility is down on the index and Bollinger band is tightening around the price variance indicating a high volatility event before the 6th of May. My bias is towards the upside of 11404, but can be a break below 10620.

Trend Lines Volatility

Comments

SubZero

⋅ Apr 30, 2021 5:58 AM

Descending triangle is ominous:

Also see this one for a while:

SubZero

⋅ Apr 30, 2021 6:39 AM

@SubZero, Interestingly the composite index shows an inverse: an ascending triangle

SubZero

⋅ Apr 30, 2021 5:35 AM

PMI data is out and its not convincing
investing.com/economic-calendar/chinese-manufacturing-pmi-594
and
investing.com/economic-calendar/chinese-caixin-manufacturing-pmi-753
market reaction:

SubZero

⋅ Apr 29, 2021 12:19 PM

Primary reason for the upward bias is because the previous resistance proved to be a new support at the 10620 range. More levels with Fib: