Hello Traders,
Not much new to add for Hang Seng!
The flag-pattern is dominating the chart since many weeks. All the moves look to me like a corrective, overlapping structure! So, I guess a break to the downside and below 27505 area should not surprise!
The more important chart is the daily, where I was counting wave's ((a)) and ((b))!
A break of the 27700-27505 area would open the door to my favorite count idea. A target should be range at the 26750-26200! More bearish potential exist! Only a break of the possible wave ((b)) high at ~29600, would clear the chart for the bulls!
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
Not much new to add for Hang Seng!
The flag-pattern is dominating the chart since many weeks. All the moves look to me like a corrective, overlapping structure! So, I guess a break to the downside and below 27505 area should not surprise!
The more important chart is the daily, where I was counting wave's ((a)) and ((b))!
A break of the 27700-27505 area would open the door to my favorite count idea. A target should be range at the 26750-26200! More bearish potential exist! Only a break of the possible wave ((b)) high at ~29600, would clear the chart for the bulls!
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!