the index found support at the range bottom again with the hourly bar closing above it. We may get another push to the 288xx area before going down again towards the end of the month
index found support at 286xx the range bottom with the hourly bar still closing above it. we may get another push to the 288xx area before a quick drop towards the end of this month
saw resistance at 288xx. should be heading to 282xx-281xx first. some interesting finding : after 8 straight bullish candles on monthly. the 9th would be bearish(which was true as we saw last month). the 10th candle would also be bearish 70% of the time). This month the index opened at 27885, lets see if there 'd be some fast sell off towards the end of October.
after the rebound to 285xx, index quickly dropped back all the way to 283xx and further to the 282xx support during the night sessions yet it found support at the bottom of the range again and managed to go back to 284xx this morning. Now it would only be safe to short again if the hourly closes below 28330 or 28362 for futures. it could go all the way to 288xx...
the top of a channel, a pitchfork warning line, a fib level and the top in 2015.. the index s showing resistance some little rebound to 284xx-285xx should happen first though
Rebound target met. very bullish day.the index gapped up through two median lines and is now approaching the top yellow schiff pitchfork warning line AGAIN. Over the past two month, it s been proven to be a huge resistance level. lets see how price reacts when we get there.
Now that 28128 s been broken the hsi should be heading towards the 285xx area yet its still very likely that the index would come back down below 28015( monthly open price) before the monthly bar closes As the hangsengindex has never seen 9 bullish candles in a row over the past 30 years.
the index did rebound as predicted but boy did it go up with great momentum if it managed to go above the high at 28128, it would negate my hourly count a complex wave iv s fxxked up like that :) that being said, since we just saw 8 straight bullish candles close on the monthly chart, even after it goes past 28128 to the 283xx-285xx area , it s still very likely...
it is possible that there would be another up move to the 278xx before going down again.
Another bullish candle just closed on monthly( 8 in a row!!). History shows that some sort of correction is bound to happen. Especially with that possible irregular B on daily :)
not sure if this new high is an irregular B in the correction or the start of the final wave 5
market did rebound to the 274xx level as suggested but it gaped up with great momentum and went past the 0.618 level to the 0.786 level of wave i usually a wave C down would be swifter and wouldn't "stall" that much. Market need to come down again fast or I'm a bit worried for the bears An alternative count would be wave 4 is taking the form of a contracting...
market seems like heading to the direction suggested in my last idea yet a deep wave ii seems underway. may see some rebounds to the 273xx-274xx area first before going down to finish the whole wave c at around 265xx-261xx area.
HSI has suffered from one of the biggest drops on 10 August 2017 in one month. The index had an upward bias since it made the recent low of 25199 on 5 July 2017 and made a recent high at 27876 on 8 August 2017. Investors like you may be concerned whether this upward bias is coming to an end. From a technical analysis perspective, the upward bias of this index...
going back to 263xx in the short term may retrace back to 252xx-25000 in a month or two
wave v of wave 5 may have already finished wave i s extended and wave iii s short. wave v could only be shorter than wave iii.. Correction about to happen