Hang Seng.....No progress!Hello Traders,
since the low @24311 on August 20, HS has achieved the 0.382 Fib.-retracement of the decline from 29394. It failed to overcome the level and the area of resistance has one more level: 26456 area!
As before.
It needs a break of the area from 26454 to 26822 to advance to 27036 level. Here an open gap would be close. If so to come, HS should be able to move to 27700 – 28200 zones.
A break of the 25612 would open the door to 25130 and below to 24300 area. Here, the trend line, that connects the low from 22519-23124 would be broken! More bearish potential exist!
Ruebennase
Have a great weekend....
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Trading this analysis is at your own risk!