The Most Scary & Important Chart You NEED to See Right Now $HSI

The mainstream media is blaming the mysterious virus in China for the pullback in the Hang Seng index, we as a technical analyst view it differently.
Bullish view - It should bounce at the moving averages (red box) and confirms the double bottom and break out.

Comment:

My prediction is we WON'T go below the two moving averages (red box) at this stage. But if we do not bounce we will retest the long term support.

Trade active:

Never mind we did go below the moving averages this month. Let's see if the support at around 25800 will hold in Feb.

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lower low again on the weekly, not good :(

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Global markets pricing in a "GLOBAL RECESSION" due to a supply and demand shock from Corona Virus.