Hello Traders,
Hang Seng gaped lower at the two latter sessions, but closed the gap intraday and made a marginally lower low @ 25783. This is in the cited target range as of my last analyze of 25786 – 25629.7 area.
Today HS popped to a high at 26192.9, what is some tics above the high @ 26161.70 as of September 30. But it failed to exceed this level on a closing basis.
For the short-term it is important to close above that level, it would break a series of lower high`s and lower lows @ 26387.90, what is the 0.382 Fibonacci of the decline from 27366-25778!
As long as 25778 is the low, the odds do increase, that a wave (2) of a smaller degree is in place.
A break of this level will open the door to 25249 and 24899, a former wave ((ii)) area.
Today`s advance was accompanied by a a/d-ratio of 3.8! Nearly four stocks were bought, for everyone that was sold! A strong hint for a beginning advance and impulsive move.
The coming hours will clear the view and I will update the chart in the coming hours.
Have a great time....
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!
Hang Seng gaped lower at the two latter sessions, but closed the gap intraday and made a marginally lower low @ 25783. This is in the cited target range as of my last analyze of 25786 – 25629.7 area.
Today HS popped to a high at 26192.9, what is some tics above the high @ 26161.70 as of September 30. But it failed to exceed this level on a closing basis.
For the short-term it is important to close above that level, it would break a series of lower high`s and lower lows @ 26387.90, what is the 0.382 Fibonacci of the decline from 27366-25778!
As long as 25778 is the low, the odds do increase, that a wave (2) of a smaller degree is in place.
A break of this level will open the door to 25249 and 24899, a former wave ((ii)) area.
Today`s advance was accompanied by a a/d-ratio of 3.8! Nearly four stocks were bought, for everyone that was sold! A strong hint for a beginning advance and impulsive move.
The coming hours will clear the view and I will update the chart in the coming hours.
Have a great time....
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!