Hang Seng Challenging Reaction Low. Study w Patterns And Targets

FX:HKG33   Hang Seng index of Hong Kong listed shares
95 0 1
Index has reached the 127 fib expansion (Somewhat schewed Butterfly ) but is currently
pushing below the Monthly S3 towards reaction low 19453.
The white lines is made up of a Weekly ABCD pattern which terminates right at a long term
Trendline around 15000 and close to Yearly S2.
Red dottet lines are reaction lows on the way.
The 161 extended Butterfly stands in confluence with the Yearly S1 aaround 18500-600
The 61,8 Fib level of the CD leg comes in at 18260 just above another reaction low at 18075.
After a few days of sideways action we may see a continuation down. First hot level will be the
close standing reaction low at 19450. A break here will open up for a move towards the Yearly S1
and 161 extended Butterfly . A failure and we might see more sideways action, or a move up to
complete the target of the Butterfly . Minimum target of the Butterfly (38,2 fib of CD leg) stands at 21050.
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