Hello Traders, Hang Seng broke below 26861 and has declined to 24748 area on July 27! This could be a good portion of wave 3 as visualized at chart! An open target is at 2358x area, where wave 3 is a 1.618-Extension of wave 1.
It needs a break of the 28218 level to change the outlook. Seasonally spoken, we enter a time of „weak-perfomance“ in the coming month ahead, so it could be, that major-markets will pause the uptrend we have seen since the March 2020 lows! Hang Seng is really weak since the February high's and the structure look corrective, with overlapping waves and choppy pattern
Have a great Sunday..... Ruebennase
Feel free to ask or comment! Tading this analysis is at your own risk!
For the current news of HSI market, according to the night stock HSI, the closing price is 26042, which means yes, we might face the bearish attack at 9 August 2021, prepare yourself, to collect more cheaper chips