With no Fed support and 1 tweet from Trump, $HSI has finally broken down from the pennant formation which is situated in the middle of a long-term channel pattern. With the breakdown, $HSI should be revisiting the lower boundary of the long-term channel at 19.8k over the medium term.
The Chinese will not bend over backwards to strike a deal with Trump whom they...
During last week, HSI has successfully broken 28,075 short term support level and dropped over 1,500 points to our target near 26,505. Currently, HSI is retesting the previous low at that level.
We are expecting the market to break the 26,505 structure level and if it does, we would be looking at a retest of structure in the lower timeframe for our entry....
HSI has retraced roughly 75% from the top 33,516 (January 2019) since the uptrend started on 28 December 2018. In April, we have seen HSI spike up to the 30,200 level where price was rejected. Recently, price has formed a short term support near 28,075 level since mid-June.
Price has now printed a higher low and a lower high which therefore is not clear where the...
Last Oct I published a series of charts named “The preponderance of evidence”, I think it is time for a new series. I think the charts itself should be self explanatory. Feel free to drop me a line on what you think.
With Xi and Trump meeting this weekend, I'm expecting good news from them as the market close with a very bullish pattern. Going long here should be very rewarding as there is potential for upside than downside. 27910 will be our SL.
Signals in the daily chart:
1. Distribution with Up-thrust at the top
2. Sell-Off bar with high volume
3. Upbar to test the high of Sell-Off bar and resistance
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This information only serves as reference information and does not constitute a buy or sell call....
Notice RSI going dlat and being sold off before reaching oversold conditions. All wwhile price action making new short term highs I think we can qualify as a divergence. Not to mention the nice retrace back to textbook fibbonacci levels
today I`d like to show you Hang Seng Future, because of the price development suring after session trading causing by US markets.
Hang Seng (normal trading hours) closed the day with modestly losses @ 29113. The Future had the rest of the day to go...and he did.
By opening the US markets a sharp and strong decline occurs at markets and HS declined...