Hello Traders,
Hang Seng made a high on July 7 at 26782.6 and declined after to 23124.30 on September 25!
This move was embedded in a trend-channel and price peaked below the lower boundary at the low of this move.
Since that low HS returned to nearly the upper boundary of the channel and a „breakout“ above the upper line would imply a push to the possible wave ((ii)) high at 25847.
Sometimes price „bounce“ around the upper boundary before they break out, sometimes with a gap up above this price area.
As long as HS is trading above the area of ~ 24100 the trend should be to the upside.
A decline below this level on a daily basis at minimum could open the door to 23768 levels and below.
Have a great week....
ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
Hang Seng made a high on July 7 at 26782.6 and declined after to 23124.30 on September 25!
This move was embedded in a trend-channel and price peaked below the lower boundary at the low of this move.
Since that low HS returned to nearly the upper boundary of the channel and a „breakout“ above the upper line would imply a push to the possible wave ((ii)) high at 25847.
Sometimes price „bounce“ around the upper boundary before they break out, sometimes with a gap up above this price area.
As long as HS is trading above the area of ~ 24100 the trend should be to the upside.
A decline below this level on a daily basis at minimum could open the door to 23768 levels and below.
Have a great week....
ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.