Hsi!
Struck in the Middleafter the rebound to 285xx, index quickly dropped back all the way to 283xx and further to the 282xx support during the night sessions
yet it found support at the bottom of the range again and managed to go back to 284xx this morning.
Now it would only be safe to short again if the hourly closes below 28330 or 28362 for futures.
it could go all the way to 288xx if this level holds. but i don't recommend longing the index
Confluencethe top of a channel, a pitchfork warning line, a fib level and the top in 2015..
the index s showing resistance
some little rebound to 284xx-285xx should happen first though
HSI: Bearish AB=CD Pattern and Strong ResistanceThe market soared quickly in the past year, and will it go further?Maybe not.
Bearish AB=CD is completing at about 27830 level and the 2.236REXT of B-C is at 28046 level.
Meanwhile the 1.618EXT of A-B is at 28349 level.
What's more, the 27780-28622 zone is previous structure and the historical high point.
So strong resistance will be faced in this zone,it is good to sell at 27780-28622 levels when price enters again and gives signals.
SL: above 28600
TP1: 25650
TP2: 24270
TP3: 22000 and further more
Near resistance againRebound target met. very bullish day.the index gapped up through two median lines and is now approaching the top yellow schiff pitchfork warning line AGAIN.
Over the past two month, it s been proven to be a huge resistance level. lets see how price reacts when we get there.
rebounding soonlooks like some rebound back to 28000 or above is imminent.
overall we are still in a complex wave 4 on the daily.
what a reboundthe index did rebound as predicted but boy did it go up with great momentum
if it managed to go above the high at 28128, it would negate my hourly count
a complex wave iv s fxxked up like that :)
that being said, since we just saw 8 straight bullish candles close on the monthly chart, even after it goes past 28128 to the 283xx-285xx area , it s still very likely the index would go back down to close as a bearish candle by the end of September.
(Beware)8 bullish monthly candles in a row Another bullish candle just closed on monthly( 8 in a row!!). History shows that some sort of correction is bound to happen.
Especially with that possible irregular B on daily :)
new high as irregular B or not ?not sure if this new high is an irregular B in the correction or the start of the final wave 5
Hong Kong Daily Update (18/8/17) *Cracks are Showing.Market did swing down and it is rebounding after the hunting the stop below of 27,000.
IMO, it is likley to go lower again, once the position swapping is done.
As the fundamental for China and HK as a proxy, I am not on the bull side. It is likely to deflate badly soon.
Let's see. I am seeing BEAR.
Trade Safe,
s0nic
Disclaimer :
This analysis not include personal feeling/opinion, and pure base on technical analysis
Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose.
please inform me with post a comment if it reach some critical point/break pattern, reach target/reach stop level.
or if there is any question about this analysis/need new update.
Because im not monitoring this chart all time.
Hang Seng Index dropped more than 470 points now. What's next? HSI has suffered from one of the biggest drops on 10 August 2017 in one month. The index had an upward bias since it made the recent low of 25199 on 5 July 2017 and made a recent high at 27876 on 8 August 2017. Investors like you may be concerned whether this upward bias is coming to an end.
From a technical analysis perspective, the upward bias of this index remains unless we see the recent low of 25199 be taken out. Based on our forecast, the index may potentially retrace to 26850 as our first target level or 26200 as our second target level. Investors like you may consider taking a prudent step to buy the index at these levels if they take the position that the upward bias remains intact. On the other hand, it is possible for this index to continue its upward bias without retracing to these levels. In such cases and based on our forecast, the index may potentially reach 28200 as our first target on the upside, followed by 29000 as our second level target.
Stay tuned for our further update on this index movement.
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corrections targetgoing back to 263xx in the short term
may retrace back to 252xx-25000 in a month or two
market has reached a big resistance level. Correction Alertwave v of wave 5 may have already finished
wave i s extended and wave iii s short. wave v could only be shorter than wave iii..
Correction about to happen
Possible short term top around 271xx-274xx area ?now in an extended wave 5. look out for possible top around the 271xx-274xx area
intersection of two long term resistance and a previous congested area,
extended wave 5 target projected from length of wave 0-wave 3 ( 1.618) also matches with such target
HSI - heading to fighting zone again.She heading to fighting zone again. Will monitor when price reached that zone.
Hang Seng putting in base for some July joy?!Hang Seng (HSI) which is heavily property weighted and led by some key stocks eg Tencent had one of its larger sell offs today, but looked to possibly put in a base around the key technical futures levels of around the 25000's /25500's. Bullish seasonality normally strong over July so a potential dip buying opportunity or part of a more major global weakness in the larger stock indices? Downside support levels at: 25000, then 24500's. Upsides: early to mid 27000's?
China Shenhua - Gapup Long Recovery towards 27 A stock that's moved 90% up from lows which is a 1.414 Fibonacci retracement on the monthly and a nice gapup on the weekly shows me this is a bullish recovery reversal. Although understandable that 19.46 will act as temporary resistance, the more this stays above 18, I will see a persistence for this to go as high as 23-27 in the next year or so :)
HSI Short Term Swing Short to 24,904-If 25,032 holds cover short.
-If 25,032 high probability that it will go back to 20EMA at 24,904
-Uptrend still intact, after covering short can look accumulate longs at 20EMA level.
