Those who follow me know my opinion for 2016 is not exactly bullish,
but for the purposes of having fun trading, here is a short term set up.
IF CHINA FINISHES UP OVERNIGHT AND TOMORROWS ECON REPORTS ARE GOOD.
China, as of writing appears to be up over night.
We finished today with a long legged doji.
People will get greedy and buy on lows.
Happy trading, cheers.
HSI has recently broke the support trend since 2009, yet recovered from a long term support since 2004, where the Central government provided CEPA program to boost HK's economy. The good time has lasted until 2015 where HK no longer benefit from inflow of capital from China.
we should look at recovery up to 24600 as next major resistance by end of 2015, and...
A potential level to watch should price decide to fall lower.
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The Hang Seng Index (HSI) Daily Diagram Technical Analysis Training shows the following:
The HSI index has declined more and now is under the KUMO and EMA200 too. MACD is bearish and RSI is entering oversold levels.
So the first think in mind is that HSI will test the 22120 support.
There is no special candlestick pattern. The index is under the Tenkan Sen and...
With the two day holiday in Hong Kong starting tomorrow the white collar sect of Hong Kong will be joining the demonstrations condemning Xi Jinpings proposal to screen candidates for the 2017 leadership election. I am looking at the index heading back towards the lows of May with the 0.236 fib level likely to act as the next support.
