The chinese Index isn't kidding around when it comes to fulfilling those New Year's resolutions and is using all its power to climb all the way North. We're expecting the Hang Seng to rise further into the turquoise target zone to complete the red wave (3). After completion, the course should fall back into a correction in order to finish the red wave (3). In case the Hang Seng can't carry on with its recent upwards pulses, we're expecting it to drop below the support line at 18 917 points. This would indicate the activation of our alternative scenario with a chance of 27%.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.