If the American indices are due a downswing, well, the same can be said of the Hang Seng. Chart shows Trend Lines (dotted blue) and Bollinger Bands. Actually, the range is still quite narrow, and the graph is rising from a weak W bottom, so the price could rise a bit further and break through the Resistance Line. Not too clear if it is ready to swing down!
Consolidate any pullback, this 3 year breakout should be a good long term position to new highs.
Potential is 32% and more, set your stop loss according to.
Get an eye on the RSI (1M), any value over 63 will be a good confirmation for a rally building up.
In the past 3 years, Improving US economics and Abe economic effects boost up US and Euro stock market. Euro stock cheers for the German economy in the 2013. Who is/are missing main charaters? China and HK Stock market is unexpectly quiet. However, recently optimistic data from China seems will trigger buyers and boost up the stock market.
After the big pop in asset-prices in 2007, the Hang Seng Index seems to having broke out of its years long consolidation pattern (ABC-Structure) this month, and now is to continue its decades-long bull market. Very strong fundamentals such as a low P/E-Ratio and a good GDP-Growth support the trend. China has a very good chance to lead the emerging markets performance-wise.
Hi all,
I am a new Gann follower that just started learning Gann theory. Please comment on this chart and welcome any correction. I admit that this chart may have tons of problem, but I keen on investment and thus I will catch up any learning opportunity. Thank you.
Helloworld
Large bullish candlestick breaking out of moving averages and resistance levels. Might have a brief pull-back as seems common enough with these signals.
If the short history here is any clue, we have technicals very indicative of future price movements; between no BS support and resistance and clear 1-2-day candlestick signals, the HSI seems to be an easy read.
