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...
not much new to add, to the weaken Hang Seng Index.
The Index topped at Jan 29, "hand-in-hand with many others, like DJIA and N50! Since than the decline is underway a correct a .585 Fibonacci. a common open target for this decline is the .618 Fibo at 24087. On the weekly chart it is still to observe, that the count favore a wave 1 high at 33484. If...
Hang Seng has dropped on a weekly basis to fresh new lows, but reversed at Friday`s session sharply after disappointing data of economic. This behavior indicates, on an Elliott wave perspective, that as bad as the news are, a important bottom could be in place. Both lows that last occur (on a weekly basis) are able to build a” double-bottom at...
Hang Seng has dropped significantly since our last bearish prediction made at 29340. It is now at a crucial stage and could move north if it finds support around 27000 level after some correction. However, if this support level is broken and then the bottom of the channel is breached, it could still go down to 24000 as originally expected.
PS: This analysis is...
Hang Seng...4h chart
as to observe at the 4h chart (TVC Indikation) Hang Seng Index has risen to 33484.10 on Jan29! This day the NIFTY50, the DOW Jones and other Indexes topped too and fell into a corrective phase since.
As it look for now, the correction within the Hang Seng has come to en end, as long as the level of 26871, Aug 16 will mark the...
Hang Seng index has been correcting since late January along with other stock markets. I consider the first drop to 29000 levels as wave A, the later triangle pattern as wave B and the latest break of the triangle as Wave C of the Eliott wave ABC pattern. IF this wave count is correct, then Hang Seng could drop to 24000 levels in Wave C (if wave C = 1.62 times...
HSI moves within a neutral trend channel. It tested the upper limit and is seemingly now on the way to the lower limit. In between we find a fib retracement 78.6% - but this one seems to be weak.
The indicators are confirming the new short trend (RSI broke the trend to down, MACD is heading to negative zone with trigger line short before crossing the signal...
Laburlah Technical Coverage (08-MAY, Tuesday):
HANG SENG INDEX
Technical Analysis Breakdown
1. Trend: Bearish
2. RSI & Stochastic: Bearish
3. MACD: Bearish crossover
4. Parabolic SAR: Bearish/ newly emerged signal
5. Supporting trendline: 29,500 - 29,866
Disclaimer: The abovementioned is purely for sharing purpose, you should seek advice from relevant...
HSI has reached ATH at 33484 on jan 29. Probably it was the end of wave 5.
After having passed the ATH it fell down on to the lower limit of the existing ascending trend channel.
In the next weeks this limit has been tested till it broke to the bottom.
We can now analyse that the new trend was installed when the index fell on the lower limit of the old trend...
The HSI seems to be forming a double top on a long term chart. RSI has broke its trend, suggesting weakness ahead. Also facing headline risk with trade war noise. Shorting in to strength for a longer-term bearish play.