Hang Seng.....Pullback in a bear-market?Hello Traders,
HS has met rising trend line, that connects the low on Mary 25 and September 25. It act as support!
The pull back since look like a corrective setup, that is done or close to do so!
A break of the 26000 level should open the door to the 268xx area (blue line)!
A decline to Thursdays low @ 25255 opens the door to 25036 and below to the low on August20.
A substantial break of this level would increase the corrective pattern with short-term targets to 24029 and 23495 area. More bearish potential exist!
Only a daily close (at minimum) with huge orders for buying contracts above the resistance level at 268xx area would clear the picture in favour of the bulls!
Have a great week.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!