Hello Traders, as per my last analyse Hang Seng dropped to the zone of the 0.618 Fibonacci (@ 26950.5) of the advance from early January `19 to April `19! After it rallied to 27857.9 and declined in a, probably, countertrend. The decline was really deep and retrace a ~ 0.88 Fibonacci of the advance. (This retracement is the minimum expectation for a „flat-pattern“...
Hello Traders, as er my last analyze, WTI moved into the cited target range („...$59.175-61.274...“ ) and reversed to the downside after it has achieved. The steepness and the slope of the decline implies, that a wave „3“ is possibly underway. Short term targets could be around the $54.370 level, the low as of March 08. More bearish potential exists. While...
Hello Traders, NIFTY50 has failed to set a new high on an intraday and closing basis today. It has achieved 12039 and reversed sharply after. From a chart pattern perspective, a „double-top“ could be in place with today`s high making a wave (B) of a flat pattern. If so, N50 will decline to the area of the wave (A) low @ 11615 or the 11574 zone, which is the 0.5...
Hello Traders, Hang Seng is declining in unison with NIK225 and other Major Asian markets. Only NIFTY50 is working against this trend, only ~130 points below its ATH! At his way of correction from the high @30280 HS retraced near the 0.618 Fibonacci of the advance, that has started in January 2019. This retracement level is a typical reversal level for a wave „2“...
Hello Traders, Hang Seng has closed an open gap from the trading of January 24- 25,2019! Yesterday`s trading range was inside this gap and HS closed the day positive at 27390.8/1. After a nearly 50% decline of the advance from January to mid-April the correction could be done. Vola for HS dropped to 18.75 (according to www.hsi.com.hk) after it set a low on May 1!...
Hello Traders, NIFTY50 open today with a gap up, but failed to exceed yesterday`s high @ 11957.05 and declined to 11865 on an intraday basis. While the structure of this move is not clear (to my view) I will not label the chart. The sideways trading range implies a coming up move, on the other hand, the correction from today's high did not retrace a 0.382...
Hello Traders, after the election NIFTY50 has risen to a new ATH @12041 on an intraday basis but failed to set an ATH on a closing basis. The rise to this high is either wave “B” of an expanding triangle within a wave (4) or it was wave (5) of ((1))! At the latter case, NIFTY50 has start a decline which is not complete and should correct into the range of 11592,30...
Hello Traders, WTI (data @OANDA) Globex session included... WTI has seen it`s the worst drop this year, declining 5.7% yesterday. This decline was in the books for Elliott Wave traders. Or in other words, „the patterns were done, the news followed!“ Today's bounce is part of wave „ii“ as per my count. If so to come, WTI has the potential to push back to the...
Hello Traders, WTI (data @OANDA) Globex session included... WTI finished a „double flat“ correction @ 63.626 on May 21 and start a decline within a wave „3“ of „3“. On the way to lower price WTI broke the middle line of the uprising trendline of the trendchannel, which is a good hint for weakening price still. At the New York session WTI broke below the lower...
Hello Traders, Netdragon made a high at HK$ @ 25.50 on April 19 and is correcting the tremendous move from HK$ 11.30 on January 4th! The correction is showing „overlapping“ waves and failed to retrace a 0.382 Fibonacci of the advance, which is the minimum level for a correction to my view, if the advance was done at 24.50. This overlapping structure is to my view...
Hello Traders, the conclusion as of my last analyze was correct. NIFTY 50 declined the past two session and reduced „overbought“ condition, failed to retrace a 0.382 Fibonacci of the advance (@ 11586.43), which is also a wave „4“ of lesser degree. To my view the move need one more „up-down“ sequence to complete the correction and will advance thereafter. While...
Hello Traders, Hang Seng made a low at 27598.10 on May 21 and start an advance which is yet not a clear „five-up“! The structure of the move and the „right look“ too it, implies me, that a fresh new impuls is underway. But I need to see more development at the chart to judge this. More often than not, at the start of a new impuls after a correction is done, a...
Hello Traders, following conclusion I have met as of my last analyze: „...Hang Seng failed to exceed the upper boundary of the trendchannel and declined sharp after. It has left a „bearish-engulfing“ at chart, a sell signal on a daily basis. While closing below the 0.382 Fibonacci of the advance from Jan.-April, the odds do increase, that the targets for the next...
Hello Traders, NIFTY50 open todays session with a massiv gap and endet the day with a 421.10=3.69% gain! This massiv and strong move, indicate a wave „three of three2 of lower degree with more bullsih potencial ahead. A/d-Ratio today closed at a skyrocketing level of 9 (45 advances/5 declines) and support this conclusion. Todays TRIN closed at low reading of...
Hello Traders, Update for WTI (data @OANDA, Globex session included) As of my last analyze WTI is trending higher within a possible „double flat“ in a wave „c“ of „(ii)“! Both legs of the upward correction could be measured in the same size, that matches the changes high the correction was done at $63.798 this morning (for that check btoh green boxes). The blue...
Hello Traders, Hang Seng failed to exceed the upper boundary of the trendchannel and declined sharp after. It has left a „bearish-engulfing“ at chart, a sell signal on a daily basis. While closing below the 0.382 Fibonacci of the advance from Jan.-April, the odds do increase, that the targets for the next move have to be checked at the downside. I have drawn a...
Hello Traders, the same as for NIFTY50 is true for Hang Seng index. It could be possible, that HS has made a major low at 27925.6 within a wave ((y)) of ((iv)) or ((ii)) of Minute degree. The move from the low is countable as a „five-up“ indicating the early stages of a new impuls to the upside. From my view, the index shows the charactaristics of an early...
Hello Traders, NIFTY50 made a low at 11108.45 and start an advance since. This move could be wave „1“ of a larger uptrend, that can led N50 to new highs. At the short term the move up is not a clear „five-up“ but the slope of the advance is one argument for this. The second leg up, started at 11137.45 on May 15 is countable as a „slit up“ wave, a series of „one`s...