After the re-accumulation at 26500-26000 in December, HSI rallied all the way to 30k before climaxing. Volume was very low throughout and the move appeared rather laboured which was unlike the markups/downs i have witnessed before in HSI .
We again saw good amount of buying in couple of weeks before the holidays. Price has now broken out of the top of re-accumulation range at 29500 and is poised to break above the swing top at 30336, possibly Tomorrow.
If it is the start of another mark up then next stop might be around 31500-32000.
I was wrong about a fake out the last time it break out of the range at 26500 and i can be wrong again but i have a strong feeling that a big selloff to at least 27500, possibly 25500 is coming before a multi month rally to new ATH .
I will be looking for sell signals at 30350-550.
We again saw good amount of buying in couple of weeks before the holidays. Price has now broken out of the top of re-accumulation range at 29500 and is poised to break above the swing top at 30336, possibly Tomorrow.
If it is the start of another mark up then next stop might be around 31500-32000.
I was wrong about a fake out the last time it break out of the range at 26500 and i can be wrong again but i have a strong feeling that a big selloff to at least 27500, possibly 25500 is coming before a multi month rally to new ATH .
I will be looking for sell signals at 30350-550.
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Not much to suggest a possible reversal as of yet. All signs are bullish and there is enough accumulation to back it up but i just can't shake off this feeling that something is not right.
China comes back Tomorrow so volume will pick up. 31300-500 is strong resistance. Gaps galore below.
China comes back Tomorrow so volume will pick up. 31300-500 is strong resistance. Gaps galore below.
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Bears appear to me to be in control despite the strong looking pullback.
Next few sessions are very important. There is re-accumulation below and if price does not quickly come back down then there is a danger of mark up.
S&P is in danger of plummeting to 3200.
Next few sessions are very important. There is re-accumulation below and if price does not quickly come back down then there is a danger of mark up.
S&P is in danger of plummeting to 3200.
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S&P refusal to go down overnight and the move up Today in Asian session has made things complicated again.
It's a wild ride atm. Sticking to short side for now.
It's a wild ride atm. Sticking to short side for now.
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