The Hang Seng Index has been moving within an upward channel since Aug 2019, which is around 5 months time.
Now it is at the top of the channel and is due for a correction. My guess for the correction would be at least to 27700.
Then we would watch the level 27470, a critical level above the big gap up.
If that gap is NOT filled, it would be bullish and the...
Bitcoin is expected to hit 6100 level soon. It may also hit the long term support trendline at around 5000 level.
A lot of people or algos would take the long term support trendline for reference and step in to trade bitcoin around that level.
Let's see how it would play out.
In addition to the support trendline, there is an important crossover for the...
In the daily chart DJI shows RSI divergence and the index is due for a correction to previous major support level 26600 to 26800.
LONG the market around 26600 to 26800 level, preferably with bullish divergence in the 1-hour chart.
The SUPER WILD GUESS:
- Target ONE: DJI 30000, the TRUMP TARGET.
- Target TWO: 30720, bonus, target based on Fib Time Zone.
The Hang Seng Index has completed a few months double bottom pattern and broke above the neckline around 27350 with a breakout gap.
If the breakout gap is not filled, the index is likely to boost to the target 30280 like it happened last year.
After reaching 27940, wait for a pullback referencing to the trendline and go LONG.
Stop Loss is at level 27200, placed...
Look for an hourly close above 26195 to confirm potential reversal, based on 1hr renko chart.
Look for a retracement and enter LONG around the range 26130 and 26195.
Stop Loss placed under 26020, below the long 1hr candle.
The target level is 26560, with Risk / Reward Ratio 1:2
The market may play between a narrow range these few days e.g. 25300 - 25500, which may be a good chance to go LONG.
It may have a bigger move upward in September once the index breaks the downward trendline.
Stop loss is placed around 25200, the previous low.
HSI is currently in an uptrend, the critical 29000 level would be reached soon and then push up further.
Upside Target: 29250, 29400
Support: 28700, 28850
To fill the gap above 29400, it would require really good news about trade deal between US and China.
HSI had a strong gap and breakout after the weekend.
The index is currently moving within the two sets of upward channels, we expect the trend to continue if it holds.
The Potential Upside Target for HSI would be 29700, 30000 and 30300.
We should see some kinds of retracement after reaching TP1 before advancing further.
The DJI is in a very strong uptrend and on the way to its target level around previous highs.
The first target is 25975 and second potential target is 26160.
It is estimated to retrace to a lower level after reaching the targets.
The Hang Seng Index has been running in the range of 27800 - 29000 since July.
Last Friday, we saw a +400 points of strong rebound after hitting a lower low of 27745.
The daily turnover has also increase from 70 billion to 100 billion, which may indicate support and potential reversal.
From the 1-hour chart, we see that the index has reached the top of the...
The Hang Seng Index has been in a downward trend for one month (since 8 June) and currently undergoing a downward channel.
The US and China tariff and trade war issue has been affecting market environment as well as investor sentiments for the period.
We have finally come to 6 July, the effective date of the US tariff, and we witnessed some heavy rebound in the...