ruebennase

Hang Seng...It was a great January. What`s next?

INDEX:HSI   HANG SENG INDEX
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Hello Traders,
Hang Seng has risen to 28193 at the open and decline for the rest of the session. After „Three-White-Soldiers“ on weekly basis the fourth week create even the next bullish candel. But Fridays behavior indicate that this move is running out of fuel.
If this bull-run is at the end, a correction to 26797.97 is to expect. Another target is aound 25935, the .618 Fibonacci of the advance (24540-28193)! Vola for HS is moving sideways, may at forefront to „jump“ up. The blue trendline at the graph below indicate supportzone, while it bounced many times from there.
At the other hand, there is still an open target at a wave 4 of lesser degree @ 28579-29083 area.
So the coming trading week is going to be interesting.
Overall the rising red-trendline at the downside is support and important, while the low at 24504 is the „MoB“ level for HS bull count!

Have a great weekend....
ruebennase

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