Hang Seng CMP 26494
Sustaining above the red resistance trend line, HSI can potentially scale up to 28500 levels...
Alternatively wait for a dip towards 26244 levels. Holding that level one can look to enter for a Long trade with Stop Loss at around 25980. That provides a good Risk::Reward ratio.
This is for educational purpose only. Please do your own Analysis...
Hello Traders,
Hang Seng closed this week at 25801, a loss of -1.89 (according to teletrader.com). This was the lowest closing since mid-May 2018 and is maybe a wave 4 of Minor degree.
It drops below the blue trend channel that I have marked as important and closed right at the lower line of it. There remain an open Gap at chart, implying the same possibility as...
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+).
