Since Jun, Hang Seng moving in 30 degree downward sloping channel. Price did not move out from this channel, and previous rally found resistant at the familiar upper channel again.
The current price movement have formed lower low, thus the downside target projection are use for price target for reference. If price continue to trade below 27439 will see 27062 & 26452 right after. Fibonacci spirals act as "future" support and resistance. Trader please be cautious when price trading near the above two levels.
The current price movement have formed lower low, thus the downside target projection are use for price target for reference. If price continue to trade below 27439 will see 27062 & 26452 right after. Fibonacci spirals act as "future" support and resistance. Trader please be cautious when price trading near the above two levels.
Trade closed: target reached:
Price reached first target 27062.
Trade closed: target reached:
Price reached second target 26452. Trader please be cautious on selling as price near lower channel. Please Refer to left chart and play forward.
Comment:
Hang Seng likely to continue down swing with reflecting Dow sentiment last night. Target below 26452 will be 25465. If price trading below this level will see 23868. Price have breakaway from 5 months downward channel.
