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HONG KONG 33

Low Volume Consolidation and a break up.As updated on 16th, selloff last week from 25255 seemed uncharacteristic of a markdown. Gaps were quickly being filled and volume in the morning hour on 3 days following the top showed minimum enthusiasm from either side. Too early to call but low volume consolidation may mean a developing triangle. I am seeing something along the lines drawn at the chart. Keep an eye on S&P. It may coincide with S&P filling the gap from Feb or making new ATH. If wrong, selloff should start in next couple of days. If so, refer to post "HSI Update" on Jun 13th for the anticipated path. Regards
HKEX:HSI1!
by Dec0der
HSI UpdateTop did come albeit 2 days late, important or not, we will know in next few days. Ideally, i would like to hv seen more distribution between 25k-26k but as pointed out in previous posts, there was high volume selling in the last move up from 22400 so it was bound to run out of gas real soon. Pullbacks should be capped below 24500. Definitely dont want to see 24800 tested anytime soon. 22900-22400 will be key and if the markdown has started, this area needs to be quickly overcome perhaps with an acceleration gap. I am not of a view that it is the start of deflationary crash as many expect and fear. NOT YET at least. Refer to my 23 May post, "Markdown or Shakeout?" linked below. Quickly down to 20k and back to 25k-26k :D. One can dream.
HKEX:HSI1!Short
by Dec0der
SHORT HK33HKD approaching resistance, potential drop!HK33HKD is approaching our first resistance at 28975.3(horizontal overlap resistance, 61.8% & 50%Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 27325.9 (38.2% Fibonacci retracement , Horizontal pullback support, 61.8% Fibonacci extension ) Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:HK33HKDShort
by FlowState
HK33HKD approaching resistance, potential drop!HK33HKD is approaching our first resistance at 28975.3(horizontal overlap resistance, 61.8% & 50%Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 27325.9 (38.2% Fibonacci retracement , Horizontal pullback support, 61.8% Fibonacci extension ) Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:HK33HKDShort
by FlowState
SHORT SHORT HK33HKD approaching resistance, potential drop!HK33HKD is approaching our first resistance at 28975.3(horizontal overlap resistance, 61.8% & 50%Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 27325.9 (38.2% Fibonacci retracement , Horizontal pullback support, 61.8% Fibonacci extension ) Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:HK33HKDShort
by FlowState
SHORT HK33HKD approaching resistance, potential drop!HK33HKD is approaching our first resistance at 28975.3(horizontal overlap resistance, 61.8% & 50%Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 27325.9 (38.2% Fibonacci retracement , Horizontal pullback support, 61.8% Fibonacci extension ) Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:HK33HKDShort
by FlowState
HK33HKD approaching resistance, potential drop!HK33HKD is approaching our first resistance at 28975.3(horizontal overlap resistance, 61.8% & 50%Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 27325.9 (38.2% Fibonacci retracement , Horizontal pullback support, 61.8% Fibonacci extension) Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:HK33HKDShort
by FlowState
Hang Seng Index reversed off resistance, potential drop!Hang Seng Index has reversed off our first resistance at 27219.5 (horizontal swing high resistance, 38.2% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 24437.6 (horizontal swing low support, 100% Fibonacci extension ). Stochastic (21,5,3) has reversed off resistance and we might see a corresponding drop in price below this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:HK33HKDShort
by FlowState
Hang Seng Index approaching resistance, potential drop!Hang Seng Index is approaching our first resistance at 28029.9 (horizontal swing high resistance, 61.8% Fibonacci extension , 50% Fibonacci retracement where a strong drop might occur below this level pushing price down to our major support at 24437.6 (horizontal swing low support, 100% Fibonacci extension ). Stochastic (21,5,3) is also approaching resistance and we might see a corresponding drop in price below this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:HK33HKDShort
by FlowState