Hello Traders,
Hang Seng has traded in a narrow range of 328 point past week! It shows an „inside-candle“! The level of the possible wave ((iv)) area of 27505 is key! (all data at weekly, left-hand chart)
On the daily chart (middle chart) you will notice, that HS is trading within the „bearish-flag“, but still rising to the middle line of it! A break of this line, will open the door to 294xx area. More bullish potential exist.
Friday's candle closed bearish, and it could be, that HS will decline to the lower boundary of it! Well; we will see!
At the hourly chart we observe the green trend line, that HS has touched multiple times since May 11th! A break of this line to the downside opens the door to a gap-close and 28160-28000 area, while a break o the level of 28600 opens the door to 28900 zone!
Have a great weekend....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
Hang Seng has traded in a narrow range of 328 point past week! It shows an „inside-candle“! The level of the possible wave ((iv)) area of 27505 is key! (all data at weekly, left-hand chart)
On the daily chart (middle chart) you will notice, that HS is trading within the „bearish-flag“, but still rising to the middle line of it! A break of this line, will open the door to 294xx area. More bullish potential exist.
Friday's candle closed bearish, and it could be, that HS will decline to the lower boundary of it! Well; we will see!
At the hourly chart we observe the green trend line, that HS has touched multiple times since May 11th! A break of this line to the downside opens the door to a gap-close and 28160-28000 area, while a break o the level of 28600 opens the door to 28900 zone!
Have a great weekend....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!