Hang Seng China Enterprises Index was already trading on a downtrend due to the real estate problems and COVID lockdowns that were plaguing the country, but the reelection of President Xi and the concerns that more emphasis will be put on political ideology rather than economic growth led to investors selling off their assets, not willing to deal with the...
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Volatility is down on the index and Bollinger band is tightening around the price variance indicating a high volatility event before the 6th of May. My bias is towards the upside of 11404, but can be a break below 10620.
Very interesting line up of the 0.382 fib level going back all the way to 2007-2008 gloom and doom
Short when break uptrend support line, 1st target range 9582 to 9518.
Mainly looking for support and long for coming week.