Morning Post (2017-7-24)
HSI has been literally moving sideways (26,642-26,789) for the past 3 trading days. We were expecting a BO on the upside, however, the market has weakened during Friday night and dropped to the bottom of the consolidation zone (26,642-26,789).
As long as HSI stays above 26,642, the market still looks strong. In case the level is broken, next significant structure support would be near 26,400.
Trading Tips:
1. Look for a reversal confirmation at current level
2. If you want to SHORT, wait for a lower low to confirm a short term downtrend
HSI has been literally moving sideways (26,642-26,789) for the past 3 trading days. We were expecting a BO on the upside, however, the market has weakened during Friday night and dropped to the bottom of the consolidation zone (26,642-26,789).
As long as HSI stays above 26,642, the market still looks strong. In case the level is broken, next significant structure support would be near 26,400.
Trading Tips:
1. Look for a reversal confirmation at current level
2. If you want to SHORT, wait for a lower low to confirm a short term downtrend