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Jan 17, 2019 9:23 AM

HSI appraoching resistance, potential drop! Short

Hong Kong 33OANDA

Description

HSI is approaching our first resistance at 27358.5 (100%, 61.8% fibonacci extension , 38.2% fibonacci retracement , horizontal swing high resistance) where a strong drop might occur below this level pushing price down to our major support at 26079.8 (horizontal pullback support, 50% fibonacci retracement ).
Stochastic (89,5,3) is also approaching resistance and seeing a bearish divergence where we might see a corresonding drop in price.
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