We have broke 25 and 26k, next stop is the 200 ma (red line), channel resistance and psychological level of 27k.
Because of how fast we have run in the last couple of days, I do expect us to retrace back to the blue line and even the 50 ma (yellow line) at some stage. It is likely that we retrace back to the these levels before going to 27k.
Read this news here
USA has 30 trillion , ie . 3 times the market cap of China which shows that at the rate that China is growing, it has 3-5 times the potential of future growth.
HK has about 4 trillion right now and with the recent changes made to its policies and China's intervention, I believe for HK to double its market cap is possible in years to...
Appears the Asians and EUros turned the algos back on we're back to the Mon/Tues/Wed pump and probably a down day Thu as everything gets overbought.
Not gonna chase the market tomorrow, will wait until Wed afternoon or Thu morning for a short opportunity.
View On Hong Kong Stock Index (19 Oct 2020)
The demonstration in HK is over for now and it didn't have the outcome that some people want it to be.
So, the stability is back in HK for now and we shall see it's stock market trying to do some catch to their peer.
23K level shall be a decent and strong support for now, it can rise further on the UPside.
25k level...
I guess I should have noticed this Friday.... Hang Seng futures actually went oversold.... explains the pump we're seeing.
RSI now overbought and it's quite the pump so not sure if we see any follow through Monday night. Will re-evaluate the situation tomorrow, but for now I'm long on AAPL.
HONG KONG HSI: BYD COMPANY #1211
Daily & Weekly chart has no divergence yet, still look uptrend in mid-term.
Disclaimer:
This is not trade suggestion.
All analysis here is for tutorial purpose only.
HSI peaked in 2018 and has been in a downtrend marked by persistent lower highs and lower lows.
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