Hang Seng strikes back
After a massive inflow of liquidity and initial breakout, Chinese stock market may recover from weekly lows, as the price indicates a solid reversal from the bottom and a breakout of a trendline of a correctional formation as shown in the chart.
Overall sentiment in stock markets remains positive with the S&P500 and Nasdaq keeping around historical highs, and the VIX unable to cross 20 (an important threshold).
The entry point is not perfect, as the breakout had already happened, but the price is still quite close to the weekly low, so risk/reward is on the side of a trader.
Always do your own research and never forget to manage your risk!
Overall sentiment in stock markets remains positive with the S&P500 and Nasdaq keeping around historical highs, and the VIX unable to cross 20 (an important threshold).
The entry point is not perfect, as the breakout had already happened, but the price is still quite close to the weekly low, so risk/reward is on the side of a trader.
Always do your own research and never forget to manage your risk!
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