Chinese Central Bank unexpectedly cut the interest owing to its downtrend industry output. Cutting the interest rate may have pros and cons that depends on how does the market react. Will market feel excited about the policy decision or worry about the outlook of the China economy? Monday market open will be answer. ( However, Aud and Nzd were positively reacting...
Fib Trace A isn't finished yet
* HSI support found at 22,265 (76.4% support)
* Temporary peak at 24,313 but i) it hasn't reached 23.6% resistance (24,493) and ii) RSI hasn't reached 70 yet
So scale down. and look at Fib Trace B
* Fib Trace B support found YESTERDAY at 23,252 (61.8% support)
* Next resistance should be at 23,900-23,956 (Fib B 23.6% resistance,...
23750 is the level to be watch closely. I believe the HSI could moving forward to 23000 and 22500 as the level has been broken.
Good luck and happy trading :)
Symmetrical triangle clearly formed. Breakout will happen soon. HSI futures settlement last trading on Oct 30. Perfect timing for drama.
Bull or bear, we will see, but I predict a big move.
HSI has been trading in range but still an overall bull the past few years.
HSI is likely to continue to rise but in ranges. Those who understand China and Hong Kong will know there're a number of very compelling bull and bear factors on the horizon.
HSI P/E at historic low of ~10x only -- historically always a long-term win when entered at this valuation
Best...
The Hang Seng Index (HSI) Daily Diagram Technical Analysis Training shows the following:
The HSI index has declined more and now is under the KUMO and EMA200 too. MACD is bearish and RSI is entering oversold levels.
So the first think in mind is that HSI will test the 22120 support.
There is no special candlestick pattern. The index is under the Tenkan Sen and...
There is always a coincidence when a big event cause a market massive move in up or downside
When Hang Seng Index broke the 25000 market with big green marubozu bar...the student knows that only a massive Protest at the CBD would be able to send the index tumbling..
Oh is it? Ain't the double bearish divergence give stern warning in advance
The index gave away 10%...
With the two day holiday in Hong Kong starting tomorrow the white collar sect of Hong Kong will be joining the demonstrations condemning Xi Jinpings proposal to screen candidates for the 2017 leadership election. I am looking at the index heading back towards the lows of May with the 0.236 fib level likely to act as the next support.
Just very recently, about a month ago, when Hong Kong Hang Seng Index broken its major resistance (traced back to Nov 2010 of 24874.96. There was a big huhhah because it "means" more upside for the fool according to Alexander Elder.
Two weeks later, it couldn't maintain the momentum and worst another big marubozu green (bearish in disguise) attempted with...
If the American indices are due a downswing, well, the same can be said of the Hang Seng. Chart shows Trend Lines (dotted blue) and Bollinger Bands. Actually, the range is still quite narrow, and the graph is rising from a weak W bottom, so the price could rise a bit further and break through the Resistance Line. Not too clear if it is ready to swing down!
Consolidate any pullback, this 3 year breakout should be a good long term position to new highs.
Potential is 32% and more, set your stop loss according to.
Get an eye on the RSI (1M), any value over 63 will be a good confirmation for a rally building up.
In the past 3 years, Improving US economics and Abe economic effects boost up US and Euro stock market. Euro stock cheers for the German economy in the 2013. Who is/are missing main charaters? China and HK Stock market is unexpectly quiet. However, recently optimistic data from China seems will trigger buyers and boost up the stock market.
After the big pop in asset-prices in 2007, the Hang Seng Index seems to having broke out of its years long consolidation pattern (ABC-Structure) this month, and now is to continue its decades-long bull market. Very strong fundamentals such as a low P/E-Ratio and a good GDP-Growth support the trend. China has a very good chance to lead the emerging markets performance-wise.
Hi all,
I am a new Gann follower that just started learning Gann theory. Please comment on this chart and welcome any correction. I admit that this chart may have tons of problem, but I keen on investment and thus I will catch up any learning opportunity. Thank you.
Helloworld
