Get started
RedRock7841

Hang Seng Index: About to bottom; large up move coming in wave 3

Long
Hang Seng Index (TVC:HSI)  
RedRock7841 Updated   
TVC:HSI   Hang Seng Index
Trend Analysis Technical Indicators Wave Analysis
2
1
trendanalysis indicator waveanalysis
Hang Seng Index has been in a downtrend for last 4-5 years. The index bottomed in Oct 2022 when China uplifted the COVID restrictions. It has been correcting the first swing since last one year. The index is approaching a critical Fibonacci level where the wave 2 should end. The level has high correlation with the multi-year trendline as well.
Comment:
Market is nearing the level of 17135. Looking for a consecetive close above it on a daily and weekly timeframe to confirm that the bottom is in!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.