The Hang Seng Index has been in a downward trend for one month (since 8 June) and currently undergoing a downward channel.
The US and China tariff and trade war issue has been affecting market environment as well as investor sentiments for the period.
We have finally come to 6 July, the effective date of the US tariff, and we witnessed some heavy rebound in the trading day.
Looking for a breakout and the big move on the direction in the next trading day.
Will it be a chance of REVERSAL or CONTINUING WITH THE TREND?
Feel free to leave comments / share your idea!
Long Entry: 28500
Short Entry: 28100
The US and China tariff and trade war issue has been affecting market environment as well as investor sentiments for the period.
We have finally come to 6 July, the effective date of the US tariff, and we witnessed some heavy rebound in the trading day.
Looking for a breakout and the big move on the direction in the next trading day.
Will it be a chance of REVERSAL or CONTINUING WITH THE TREND?
Feel free to leave comments / share your idea!
Long Entry: 28500
Short Entry: 28100
Trade closed: target reached:
This morning the Hang Seng Index has another 200 points gap up at market open, with a day high of 28981 right after the opening.
The trade target 28850 has been met, although it is unexpected to be reached via an opening gap.
The index looks weak now. It would be difficult to fight 28900 and above.
The trade target 28850 has been met, although it is unexpected to be reached via an opening gap.
The index looks weak now. It would be difficult to fight 28900 and above.
This morning the Hang Seng Index has a huge gap up at market open for almost 300 points.
The index topped at around 28800 today and closed at around 28700.
We will be heading to the more challenging resistance level 28900 - 29000 tomorrow.