Hang Seng: Wait for It… ☝️Hang Seng is still busy in the magenta-colored zone between 20 867 and 18 707 points. On the one hand, the index has slowed the descent and could very well have completed wave (4) in magenta by now, readying itself to take off. After all, the requirements for the current movement’s conclusion have already been met by touching at the magenta-colored zone. On the other hand, Hang Seng still has got some room to expand wave (4) a bit deeper and could indeed make use of the whole magenta-colored zone. As soon as this low is established, though, the index should turn upwards and climb above the resistance at 22 798 points. However, there is a 36% chance that Hang Seng could develop wave alt.A and alt.B in turquoise first, the latter leading it out of the magenta-colored zone. In that case, wave alt.C should push the index back down into this area, where it should finish wave alt.(4) in magenta as well before moving northwards again.
