GlobalPrime
Short

HSI approaching resistance, potential drop!

OANDA:HK33HKD   Hong Kong 33
Trend Analysis Harmonic Patterns Chart Patterns
HSI is approaching our first resistance at 30079.5 (horizontal pullback resistance, 38.2% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 29570.6 (38.2% Fibonacci retracement , 61.8% Fibonacci extension , horizontal pullback support).
Stochastic is also approaching resistance and seeing a bearish divergence where we might see a corresponding drop in price.
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