Hello Traders,
as per my last analyze, Hang Seng declined with one more gap to the downside, testing the important level of 26204. Today`s close was @ 26595, intraday low @ 26306! So just ~100 points to go!
A fractured market is always not a good sign for the bulls, indicating higher Vola and uncertain of traders.
I could draw lots of the trendline to the chart, but this is not the way to give a forecast.
To the downside, we have the following levels as important. 26204+26306 are to watch short term. If the latter one will be broken in the next hours of trading, it will be the „door-opener“ to 26204 and below to 25522.
The bullish idea of the last analyze is invalid by breaking below 26204!
On the other hand; if HS is able to break above the 26690 it could be the chance to close the gap made by today`s session. The next target is around 27060 areas, which represent the middle line of the trend channel. A break above this area/line opens the door to 27605 were an open gap exists from the trading of November 8!
So, the situation is not clear short term and I recommend to step to the side line and to wait that the market will commit to us, instead we commit to the market!
Have a great weekend...
ruebenenase
Feel free to ask or comment.
Trading this analyze is at your own risk!
as per my last analyze, Hang Seng declined with one more gap to the downside, testing the important level of 26204. Today`s close was @ 26595, intraday low @ 26306! So just ~100 points to go!
A fractured market is always not a good sign for the bulls, indicating higher Vola and uncertain of traders.
I could draw lots of the trendline to the chart, but this is not the way to give a forecast.
To the downside, we have the following levels as important. 26204+26306 are to watch short term. If the latter one will be broken in the next hours of trading, it will be the „door-opener“ to 26204 and below to 25522.
The bullish idea of the last analyze is invalid by breaking below 26204!
On the other hand; if HS is able to break above the 26690 it could be the chance to close the gap made by today`s session. The next target is around 27060 areas, which represent the middle line of the trend channel. A break above this area/line opens the door to 27605 were an open gap exists from the trading of November 8!
So, the situation is not clear short term and I recommend to step to the side line and to wait that the market will commit to us, instead we commit to the market!
Have a great weekend...
ruebenenase
Feel free to ask or comment.
Trading this analyze is at your own risk!