While 245 gap down 2 weeks ago, HSI still trades below the gap resistance.
It's believed that DOWS and Nikk has the selling signal by Tanken has cut their Kijun on daily chart.
Sell HSI/ HSCEI when rebound. It's holiday tomorrow, let's see on Wed.
Pretty weak, but still up
Hang Seng index, which represents Hong Kong stocks, was going down suring the recent few months. But right now it appears to be reversing, or at least correcting, to the upside. What to expect this year?
Let's recognize a bit of Hang Seng nature from the technical point of view. Look at the chart.
30% per rally
Most of the rallies...
Everything is described in chart.
Every fundamental reason is given since the US rate hikes again.
The chinese loans have to be paid in US Dollar which increases a lot.
07 Sept. 2016
Hang Senf Index - 4 Hour Chart
Index is now reach a resist level, but buying is strong, expect index to continues the up trend after a correction to the support levels.
The STRONG Resist Zone is where I expect a nice sell back down to the support zone below in this chart, once index manage to climb and reach it, may be in mid. Oct. so watch out...
HSI Hangseng index could make some new highs. It is trading between the solid red line and the solid light green light. It's a buy for long term hold as long as they respect the parallel channel in monthly chart.
1st weekly target already hit, not very safe to enter now. Now is the time to wait patiently for RSI to retrace to 50 level before deciding on the next step. It is 21bars since the last MACD cross, if the retrace is deep, it might go down to meet the MACD (green circle); which I doubt so. Any thing beyond 23k is already pushing the envelope. For this chart, the...
With the two day holiday in Hong Kong starting tomorrow the white collar sect of Hong Kong will be joining the demonstrations condemning Xi Jinpings proposal to screen candidates for the 2017 leadership election. I am looking at the index heading back towards the lows of May with the 0.236 fib level likely to act as the next support.
