Hang Seng Index
HSI
over the last 18 years looks generally Rangy.
We have seen a recent failure DOUBLE TOP movement at its all-time high level near 32,000
Current price action looks trending in bearish momentum, the Global stock market is also recently taken a hit since the price no longer
makes higher low and higher high of what it feels like bull market over recent years.
Any price pullback should see a possible Head & Shoulder resistance formed at the recent horizontal line drawn above the current price.
We should see the price eventually heads towards Target 1 potentially before Target 2 should a global meltdown happens in 2019.
The good side of this Hang Seng Index is that the overall price is rather rangy over the last 18 years despite it is trading a big band high and low.
Recent low at 24500 is key to the downtrend, as soon as price closes below this key support, the price should escalate quickly towards T1.
We are not that bearish on HSI but China and US Market is likely to create financial turmoil for 2019.
#Disclaimer, this is just a forecast. Happy trading and good luck for 2019 - FTD
HSI
over the last 18 years looks generally Rangy. We have seen a recent failure DOUBLE TOP movement at its all-time high level near 32,000
Current price action looks trending in bearish momentum, the Global stock market is also recently taken a hit since the price no longer
makes higher low and higher high of what it feels like bull market over recent years.
Any price pullback should see a possible Head & Shoulder resistance formed at the recent horizontal line drawn above the current price.
We should see the price eventually heads towards Target 1 potentially before Target 2 should a global meltdown happens in 2019.
The good side of this Hang Seng Index is that the overall price is rather rangy over the last 18 years despite it is trading a big band high and low.
Recent low at 24500 is key to the downtrend, as soon as price closes below this key support, the price should escalate quickly towards T1.
We are not that bearish on HSI but China and US Market is likely to create financial turmoil for 2019.
#Disclaimer, this is just a forecast. Happy trading and good luck for 2019 - FTD
