Hello Traders,
Hang Seng has risen to the targetzone as of my last analyse in a rang e from28600-29083. Weekly close was @ 28816.3.
To my view this advance is not done but expect to be in a very short time, `cause overlapping wave within the advance leave a unclear mesage. May it signal an Ending diagonale?
While I am not sure I did not place a wave label at chart, but if the count is correct a possible target zone in a short term might be at 28897.5-28946-29546.9!
The levels of 28897.5 – 29546 is the .618 Fibonacci of wave (i) blue and at 29546 wave (v) will equal wave (i) blue!
The area around 28946 (red) is the 1.618 Fibo-Extension of wave (i), black were wave (iii) possible end.
Looking for a confirmation of this count it is likely to follow Hang Seng Composite which is still rising in an impulsiv move with a cristal clear uptrend (higher highs, higher lows) but it is still reaching levels aof oversold conditionand it is diverging by price and RSI. The same is true for Hang Seng Internet&Information sector as it is for the Future and the Financial Index.
Again, if this count is the one with the most probabilty of confirmation after a top at the named areas, a pullback is next to occur. Keep in mind, that common targetzones for a correction are almost always wave 4 of lesser degree.
But lets wait `til the market is sending this message and we will discus it here just in time.
Have agreat weekend....
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!
Hang Seng has risen to the targetzone as of my last analyse in a rang e from28600-29083. Weekly close was @ 28816.3.
To my view this advance is not done but expect to be in a very short time, `cause overlapping wave within the advance leave a unclear mesage. May it signal an Ending diagonale?
While I am not sure I did not place a wave label at chart, but if the count is correct a possible target zone in a short term might be at 28897.5-28946-29546.9!
The levels of 28897.5 – 29546 is the .618 Fibonacci of wave (i) blue and at 29546 wave (v) will equal wave (i) blue!
The area around 28946 (red) is the 1.618 Fibo-Extension of wave (i), black were wave (iii) possible end.
Looking for a confirmation of this count it is likely to follow Hang Seng Composite which is still rising in an impulsiv move with a cristal clear uptrend (higher highs, higher lows) but it is still reaching levels aof oversold conditionand it is diverging by price and RSI. The same is true for Hang Seng Internet&Information sector as it is for the Future and the Financial Index.
Again, if this count is the one with the most probabilty of confirmation after a top at the named areas, a pullback is next to occur. Keep in mind, that common targetzones for a correction are almost always wave 4 of lesser degree.
But lets wait `til the market is sending this message and we will discus it here just in time.
Have agreat weekend....
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!