Hang Seng HSI
HSI approaching support, potential for a bounce!
HSI is expected to drop to 1st support at 26033.8 where it could potentially react off and up to 1st resistance at 27988.3.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
HSI approaching support, potential for a bounce!
HSI is expected to drop to 1st support at 26456.4 where it could potentially react off and up to 1st resistance at 27988.3.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
HSI approaching support, potential for a bounce!
HSI is expected to drop to 1st support at 26456.4 where it could potentially react off and up to 1st resistance at 27810.2.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Hang Seng: Symmetrical patterns show an extended uptrend to at lThe index has broken above the multi month descending channel that started on April's peak with a clear cross over the Lower High trend line (dashed line) on very healthy bullish 1D price action (RSI = 66.138, MACD = 47.598, Highs/Lows = 433.2348).
Since both 1W and 1M turned neutral (RSI = 54.126 and 51.251 respectively) we are looking at previous candle patterns for clues. So far we have spotted striking similarities with the October 2018 - January 2019 price action. Similar lows, High and rejection around 27,300 and then a continuous bullish sequence.
Based on that symmetry we have set the following targets: 29,000, 29,500 and 30,200, which should be used in accordance to each trader's risk approach. A Golden Cross on 1D (as it happened in March) will further validate this outlook.
In September we've made a similar analysis with targets based on Fibonacci retracements and is already near the first target:
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