Bottom Today?The volume in the opening minutes suggests that HSI has or is about to bottom. Main accumulation was between 17k-18k.
The reduction target is 16,500According to the Butterfly pattern, the Fibo perfectly converges the decline at the target of 16500. We also go down the channel where the lower border of the channel will be. All 3 parameters should be added together. We should reach it by October, there will be a great point for going to long.
Shakeout Incoming?Since my last post, Hsi did crawl up but was rejected strongly from 18400 and is back in the value area around 17500.
The way it is shaping up, i suspect that a strong shakeout is coming up in next few days in which HSI can drop all the way to 16k. If that happens, it will present a very good oppo
Hang Seng Index: Motivated! 💪The bulls were able to push the Hang Seng Index significantly higher on Friday, moving it further away from the yellow trading range between 17,424 and 15,571. However, we still expect the price to return to this area as part of the magenta wave (2) to make a lower low before the reversal occurs. Th
HSI in a bear market territoryFrom the peak at 22,792 in mid February this year, we are now seeing HSI entering into a bear market territory currently. Some said that the selling has been excessive and possibly a rebound is near the corner due to sellers' exhaustion.
Effective Sept 4 this year, we will see Country Garden being
Going UPGood volume has arrived over the last 2 days. Not totally convinced that Long term bottom is in place but for next few days/weeks, HSI should make its way up towards the top of the parallel channel.
Resistance will come in at 17500, 18000, 18500 and 19000.
Expecting Oct 4 Low to Hold.Move down Today seems to be a breakout from the Triangle. I expect Oct 4 Low to hold and a strong move up towards 20k starts here.
Hang Seng Index: High-flyer 🌟The Hang Seng Index is currently in a strong rise. As the yellow trading range between 17 424 and 15 571 points has already been approached, it is quite possible that the low of the magenta wave alt.(2) has already been set. We give this scenario a 40% probability and it would become our primary sce
Markets Keep Dropping: Is this Temporary or the Start of SomethiThe week stated with stock markets facing pressure due to a violent attack by Hamas on Israel.
The involvement of other players, notably Iran suspected of aiding Hamas, has raised concerns of a potential full-scale conflict, prompting the United States to dispatch a squadron of warships toward Isra
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