HK33HKD - 24h expiration
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
Trend line support is located at 16530.
Preferred trade is to buy on dips.
Trading within a Corrective Channel formation.
Risk/Reward would be poor to call a buy from current levels.
50 4hour EMA is at 16720....
Hang Seng (HSI1!) has been trading within a Channel Down throughout the whole year. As the rice hit its bottom (Lower Lows trend-line) on December 11 and the 1D MACD formed a Bullish Cross, we expect the new Bullish Leg towards the 1D MA200 (orange trend trend-line) and the to (Lower Highs trend-line) of the Channel Down.
The average rise within this pattern has...
HS50 - 24h expiry - We look to Sell at 18100 (stop at 18300)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
The bias is still for lower levels and we look for any gains to be limited.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move...
HS50 - 24h expiry - We look to Sell at 19213 (stop at 19373)
We look to trade the current range.
Trading has been mixed and volatile.
Bespoke resistance is located at 19200.
Preferred trade is to sell into rallies.
The primary trend remains bearish.
Our profit targets will be 18813 and 18733
Please be advised that the information presented on TradingView...
HS50 - 24h expiry - We look to Buy at 19220 (stop at 19060)
We are trading at overbought extremes.
A lower correction is expected.
Posted a Double Bottom formation.
Neckline support is 19217.
Further upside is expected although we prefer to set longs at our bespoke support levels at 19220, resulting in improved risk/reward.
Our profit targets will be 19620...
HS50 - 24h expiry - We look to Sell at 19220 (stop at 19405)
Price action looks to be forming a top.
The 200 day moving average should provide resistance at 19235.
This is negative for sentiment and the downtrend has potential to return.
Preferred trade is to sell into rallies.
Further downside is expected although we prefer to sell into rallies close to the...
HS50 - 24h expiry - We look to Buy at 19450 (stop at 19250)
We are trading at overbought extremes.
A lower correction is expected.
Short term bias has turned positive.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Further upside is expected although we prefer to buy into dips close to the 19430 level.
Our...
HS50 - 24h expiry - We look to Sell at 19469 (stop at 19619)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Price action looks to be forming a top.
The 200 day moving average should provide resistance at 19458.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels...
HS50 - 24h expiry - We look to Sell at 19995 (stop at 20155)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
The Ichimoku cloud and 200-day moving average provide further resistance and we look to set shorts in early trade to capture this selling opportunity.
The weekly pivot is at 20000.
The hourly chart...
HS50 - 24h expiry - We look to Sell at 20305 (stop at 20425)
We are trading at overbought extremes.
A Doji style candle has been posted from the high.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
Further downside is expected although we prefer to sell into rallies close to the...
Hang Seng is supported on the 1W MA50 with technicals both on the 1D and 1W time-frames (RSI = 51.130, MACD = 75.500, ADX = 25.377) neutral. This shows the high accumulation effect that is taking place as the huge Inverted Head and Shoulders pattern (whose Head formed the October bottom) is near to complete the Right Shoulder. Even though there are several...
HS50 - 24h expiry - We look to Buy at 20260 (stop at 20090)
Selling pressure from 20753 resulted in all the initial daily gains being overturned.
The current move lower is expected to continue.
Short term bias is mildly bullish.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Further upside is expected...
HS50 - 24h expiry - We look to Sell a break of 20150 (stop at 20455)
Previous support located at 20250.
Previous resistance located at 20500.
Price action has stalled at good resistance levels and currently trades just below here (20600).
We expect a reversal in this move.
A move through 20150 will confirm the bearish momentum.
Our profit targets will be...
HS50 - 24h expiry - We look to Sell at 20209 (stop at 20430)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
This is negative for sentiment and the downtrend has potential to return.
Previous resistance located at 20209.
The medium term bias remains bearish.
Further downside is expected although we prefer...
HS50 - 24h expiry - We look to Sell at 19635 (stop at 19901)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
The medium term bias remains bearish.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is...
HS50 - 24h expiry - We look to Sell at 19820 (stop at 20150)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
The medium term bias remains bearish.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is...
HS50 - 24h expiry - We look to Buy at 20900 (stop at 20670)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
The hourly chart technicals suggests further downside before the uptrend returns.
We look to buy dips.
Although the anticipated move higher is corrective, it does...
