What looked like a channel breakout has reverted back within it. Was that an exuberant top? Looks unlikely at the miment but lower boundary comes in closer to 20k
Hangseng appears to be forming a complex corrective pattern, which can be nicely channelized , Traders can buy when index hits the lower end of channel (24500 around). This index will make a new high once consolidation is over (26000+).
A market capitalization-weighted index of 40 of the largest companies that trade on the Hong Kong Exchange. The Hang Seng Index is maintained by a subsidiary of Hang Seng Bank, and has been published since 1969. The index aims to capture the leadership of the Hong Kong exchange, and covers approximately 65% of its total market capitalization. The Hang Seng members are also classified into one of four sub-indexes based on the main lines of business including commerce and industry, finance, utilities and properties.
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