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HSI has been labeled within a Sub-Millennium degree wave 4 (blue), which has been unfolding ever since the 2007-2008 Recession.
Structure - Expanding Flat Formation
Oct 2007 peaks and down until Oct 2008 bottoms - Grand Super-Cycle wave a (red)
Hang Seng is moving sideways since August 15, may creating a triangle in wave „4“ position.
Triangles occur at a wave „4“, „B“ or an „X“ wave of a ZigZag pattern and they give a hint of what will be next. A final drop (in this case) and a change of trend thereafter! They never occur in a wave „2“ position!
At the daily chart, which I am showing, the...
today I´d like to show a mid-term chart for Hang Seng, and I start at the low at Feb`2016.
The first week of Feb`16 Hang Seng made it`s low @ 18627.51 and start a multi week advance to the ATH @ 33484 in late January`18. Since than Hang Seng has retraced this advance near a 0.618 Fibonacci (@24087) and reversed sharply after. !
The advance since...
Hang Seng has risen to 28193 at the open and decline for the rest of the session. After „Three-White-Soldiers“ on weekly basis the fourth week create even the next bullish candel. But Fridays behavior indicate that this move is running out of fuel.
If this bull-run is at the end, a correction to 26797.97 is to expect. Another target is aound 25935,...
Fridays session brought a „gap-up“ at Hang Seng above the important resistance of 27259, the possible wave (b) high from Dec. 03!
The next trading hours will clear the picture if this „breakaway“ pattern is valid or will be a failure. So a pullback to the 27259 will be classified as a „goodby“ and if succesful a run to 28000 area is maybe next.
HSI has dropped down significantly since my idea published in June predicting price drop to 24000 (see below). It is now likely to drop in a last leg down. Note that it may move up to 28000 before moving down.
PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own...
Hang Seng has closed the week at 27090.81, just tics below it`s intraday high at 27116! HS as also risen above the declining trendline, that I have drawn at chart and croosed that line at Tuesday trading seesion. HS Volatility is declining still, and for now there is no sign for rising Vola within the next sessions.
By observing the daily chart, the...
Hang Seng (HS) is working its way lower and at 27260 a „three-up“ endet and HSD declined once again.
The alternate interpretaion for this move is, that it is a series of „one`s“ and „two`s“. As you see, the retracement from 24540 – 27260 is at the 0.618 Fibonacci, indicating a possible wave 2 pullback.
If so, the level of 24540 has to be valid for...
Hang Seng Index HSI over the last 18 years looks generally Rangy.
We have seen a recent failure DOUBLE TOP movement at its all-time high level near 32,000
Current price action looks trending in bearish momentum, the Global stock market is also recently taken a hit since the price no longer
makes higher low and higher high of what it feels like bull market over...
Hang Seng (HS) has made a low @ 24450 on Oct 29. The day as the DJIA and the S&P500 made one too. The move at HS is more „powerful“ and may complied the onset of a first leg of an impulsiv move up.
If this is the case, HS is showing a series of 1-2`s which will lead to a new ATH well above the 33484 of Jan 29.
But let`s check the move from 18278.8...
The Hang Seng Stock Index (Hong Kong) is trading better recently. It is currently testing the daily ichimoku cloud, and will be a strong positive sign should it manage a close above the cloud. Is this just shortcovering ahead of the meeting between Trump and Xi at the G20 Summit or is it something more?
Hang Seng has risen this week up to +7.16% (according to teletrader.com) with a large bull candle.
At the low at 24540 the RSI (14) has plunged to 31 area, which is the lowest reading since Oct. 11. At this time HS priced at 25266 (closing price) and plunged for the rest of the month. More important is the fact, that a divergence is to observe at...
some interesting pattern occurs this morning.
Hang Seng open on Oct. 24 with a massiv gap-down to 24766 and set the stage for a „final (?) low at 24540.60 on Oct. 30. Since this move down, there remains an open gap which was followed this morning by a gap-up to 25228. This pattern indicate a potencially reversal, as long as the low at 24540 is...