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Hang Seng Index Futures

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HSI1! trade ideas

Hang Seng - The Rebound found resistanceHang Seng rebound strongly with fresh measure announced to ease funding for private companies. The strong rebound brought price to 26222 level. On the left chart, price reached one third of previous downswing (important fibonacci retracement level), also hovering around previous downward channel line. On the right 60 mins chart, yesterday rebound reached 5 golden ratio multiples and quickly retraced. Both charts in different time frame were suggesting the rebound hitting major resistance. And Hang Seng have not prove to be trend reversal, market remain bearish. The current price projection from 26222 level as follow: 25917 short tern support for selling If price trade below 25917, next target at 25729. If price trade below 25729, next target at 25424
HKEX:HSI1!Short
by Johnkiew
Dow, FKLI & Hang Seng - The 50% RetracementThe sharp declined in indexes market have not make significant come back yet since 11 Oct. The 3 charts plotted in 60 minitues time frame. From the left - Dow declined 7.6% from the peak, and rebound to 50% ratracement ( 25510) and trade below. - FKLI declined 6.7% from the peak, and rebound to slightly higher than 50% ratracement (1738) and retraced. - Hang Seng declined 10.5% from the recent peak, among the worst performing market, and rebound to 50% ratracement (25775) and trade below. The current price structure in correction stage with no indication of bullish yet.
HKEX:HSI1!
by Johnkiew
Hang Seng - Room for downsideSince Jun, Hang Seng moving in 30 degree downward sloping channel. Price did not move out from this channel, and previous rally found resistant at the familiar upper channel again. The current price movement have formed lower low, thus the downside target projection are use for price target for reference. If price continue to trade below 27439 will see 27062 & 26452 right after. Fibonacci spirals act as "future" support and resistance. Trader please be cautious when price trading near the above two levels.
HKEX:HSI1!Short
by Johnkiew
Hang Seng - Support at 27300 & 26880Hang Seng likely to join Dow Jones to trade lower with cautious on rate hike ahead. On the left chart (4 hours chart), Hang Seng Futures trading in a downward sloping channel with moderate slope of -22 degree. The recent rally not able to brought the index anyway further. Price is likely to continue to trade within the range for days to come. If the current selling continue, as long as price below 27550, price is likely to discover lower price zone 27300 and second target at 26880.
HKEX:HSI1!Short
by Johnkiew
Hang Seng - Reach Resistance 27270Rebound with global sentiment recovery from trade war concern. Hang Seng selling reach 50% retracement level 26683 on yesterday (left chart) and rebound. However the current swing have achieved 4 multiples of golden ratio. A potential retracement may occur. This basis can be refer to Hang Seng was under-performer among all indices market during this period of time. Thus, today commentary are require to provide two directions view: If price go higher high than 27270, price will further rebound to 27647. If price trader lower than 27270, support could be found on 27025 & 26945.
HKEX:HSI1!
by Johnkiew
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