Hello Traders,
Hang Seng has advanced 350 this week, but the progress is not an impulse yet to my view!
The overlapping structure suggest a corrective setup which could go on in the coming week.
A rise above ~28900 area on a daily close is needed to establish a new uptrend.
A decline below the level of 28260 area would favor a „sideways range market“ and a break of this level on a daily close could open the door to ~27600-27500 area.
Until then, I would see a break of one or the other level and wait for more clear pattern and structure!
Have a great Sunday and a great week.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
Hang Seng has advanced 350 this week, but the progress is not an impulse yet to my view!
The overlapping structure suggest a corrective setup which could go on in the coming week.
A rise above ~28900 area on a daily close is needed to establish a new uptrend.
A decline below the level of 28260 area would favor a „sideways range market“ and a break of this level on a daily close could open the door to ~27600-27500 area.
Until then, I would see a break of one or the other level and wait for more clear pattern and structure!
Have a great Sunday and a great week.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!