Hello Traders,
Hang Seng is progressing in a wave (5) of ((3)) to new highs, since the low at 26671.90! This move is running in a trend channel. The possible wave (4) low @ 27986 has met the wave „4“ low of one lesser degree and it retraced a bit more as the 0.382 Fibonacci of the advance within a wave „3“. So, a common target cluster for this move has achieved.
As long HS is trading above the wave (4) low the target area for a wave ((3)) is up to 291xx-298xx area.
A solid break of the wave (4) low would diminish the forecast and will lead me to a new adjustment of the chart.
If some new pattern develops, we will discuss it asap!
Have a great day...
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!
Hang Seng is progressing in a wave (5) of ((3)) to new highs, since the low at 26671.90! This move is running in a trend channel. The possible wave (4) low @ 27986 has met the wave „4“ low of one lesser degree and it retraced a bit more as the 0.382 Fibonacci of the advance within a wave „3“. So, a common target cluster for this move has achieved.
As long HS is trading above the wave (4) low the target area for a wave ((3)) is up to 291xx-298xx area.
A solid break of the wave (4) low would diminish the forecast and will lead me to a new adjustment of the chart.
If some new pattern develops, we will discuss it asap!
Have a great day...
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!