Hello Traders,
since my last analysis (red arrow) HS-index has broken out to new highs since the low at 23124.25 on September 25. It has moved into a range of resistance (at 26782.62) that pretty cool coincide with the 1.382 Fib-Extension of wave x. And it is the 0.618 Fib.-Extension of waves x and y!
So, multiple resistance lies directly ahead.
And at least, HS also reached the declining trend line that connects the high from January 2018 and April 2019.
It could be that HS will spike above the trend line to touch the areas, mentioned before. Two scenarios are still possible.
It will fail to breakout to new highs and corrective setback is next.
Or it will breakout with a massive gap to the upside (a bullish gap) and this would open the door to 292xx area still!
I will update the count in the coming hours.
Have a great Sunday!
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
since my last analysis (red arrow) HS-index has broken out to new highs since the low at 23124.25 on September 25. It has moved into a range of resistance (at 26782.62) that pretty cool coincide with the 1.382 Fib-Extension of wave x. And it is the 0.618 Fib.-Extension of waves x and y!
So, multiple resistance lies directly ahead.
And at least, HS also reached the declining trend line that connects the high from January 2018 and April 2019.
It could be that HS will spike above the trend line to touch the areas, mentioned before. Two scenarios are still possible.
It will fail to breakout to new highs and corrective setback is next.
Or it will breakout with a massive gap to the upside (a bullish gap) and this would open the door to 292xx area still!
I will update the count in the coming hours.
Have a great Sunday!
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!