HSI went oversold again. China goes down, Bitcoin goes down. BTC seems like it's trading along with China for the past month. Probably a weak bounce tonight, China has been very bearish lately.
Hang Seng is supported on the 1W MA50 with technicals both on the 1D and 1W time-frames (RSI = 51.130, MACD = 75.500, ADX = 25.377) neutral. This shows the high accumulation effect that is taking place as the huge Inverted Head and Shoulders pattern (whose Head formed the October bottom) is near to complete the Right Shoulder. Even though there are several...
Increasing confidence for global economic resilience in 2023. Global growth for 2023 has continued to improve. The U.S. has started the year with a degree of momentum, even if activity could wane as the year progresses. Chinese activity is bouncing back as the economy reopens, while the Eurozone is likely to benefit as energy prices have receded and headline...
Overbought on RSI and MFI. Decided to buy a few PDD puts when it went green, it didn't rally with the Chinese market after missing earnings, it'll tank if HSI goes red.
In this update we review the recent price action in the Hang Seng and identify the next high probability trading opportunities and price objectives tot a
Something bullish is happening in China, potentially primarily due to the reopening and all the liquidity injections by the PBoC. China never raised rates while slowly adding liquidity to markets. We saw a significant capitulation when Xi became emperor for life by removing everyone that could potentially cause trouble to him from the CCP, as well as when we first...
Potential bullish chart formations! The same patterns are seen with Baba. Not investment advice and do your own due diligence!
Hang Seng is still busy in the magenta-colored zone between 20 867 and 18 707 points. On the one hand, the index has slowed the descent and could very well have completed wave (4) in magenta by now, readying itself to take off. After all, the requirements for the current movement’s conclusion have already been met by touching at the magenta-colored zone. On the...
HanG Seng came under fire and could see new lows in coming days. The price action recently flushed through resistance at 22416 and is now unwinding longs positions on a move down. A break below 21068 could see a move into 20165.
I said yesterday afternoon that I was bearish on China, look at MFI on this chart. It's basically at support now so I flipped my puts this morning. At least I found one index where indicators still work, lol. US/Euro markets in a complete melt up.
Major resistance in another China ETF....Tagging Multi year Pivots going all the way back to 2011.
Cycle from 10.31.2022 low in Hangseng Index is in progress as a nesting 5 waves impulsive Elliott Wave structure. Up from 10.31.2022 low, wave ((1)) ended at 18414.09. The 45 minutes chart below shows pullback in wave ((2)) ended at 16833.68. Wave ((3)) is currently in progress as another impulse in lesser degree. Up from wave ((2)), wave ((i)) ended at 19237.45...
Large C&H has formed since the break up and out of it's recent medium downtrend. Price is also above the 200SMA (Which explains the Green background) This means, an uptrend is confirmed, 7>21 >200SMA RSI >50 >75 Target 24,637 Bullish
HK50 - Intraday - We look to Sell at 19560 (stop at 19821) We are trading at overbought extremes. A Doji style candle has been posted from the high. Price action looks to be forming a top. This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower. Further downside is expected although we prefer...
Cup and Handle has formed on Daily with Hang Seng. The breakout was strong, and if we weren't in, we'd wait for a bit of a pull back for a consecutive entry level. 7>21 < 200 Moving Average which gives it a Bullish bias. With the Covid restrictions lifting slowly and things finally showing a recovery to come for the economy, this could be the helpful catalyst...
Hangseng looks bullish. There are 2 bull patterns just ended, so it looks about 40% up at least.
Watching the Hand Seng underlying index in coming sessions...could be a good selloff on the cards...price action looking weak and there is a lot of buyers that could be put under pressure to unwind long positions!!
Trade Idea: Selling HK50 Reasoning: Top pattern on HK50 Entry Level: 17641 Take Profit Level: 16980 Stop Loss: 17796 Risk/Reward: 4.25:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all...