Hello Traders,
Hang Seng dropped this morning to 28463 and was not in conditions to build a bottom yet. The Future declined to 28422 and is showing weakness since.
A first hint for a countertrend occurs by overcoming the 28664 and after the level of 28711. This could open the door for a „gap-rally“ and may it will closed if so to come.
Extending the losses and weakness at the future will set the stage for the 28016 level, maybe it fall deeper (27845-27534 zone)! Both are levels of wave 4 corrections.
Any reversal above the level of 28016 also keeps the idea of a triangle valid, either too a flat correction of course!
Have a great day...
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!
Hang Seng dropped this morning to 28463 and was not in conditions to build a bottom yet. The Future declined to 28422 and is showing weakness since.
A first hint for a countertrend occurs by overcoming the 28664 and after the level of 28711. This could open the door for a „gap-rally“ and may it will closed if so to come.
Extending the losses and weakness at the future will set the stage for the 28016 level, maybe it fall deeper (27845-27534 zone)! Both are levels of wave 4 corrections.
Any reversal above the level of 28016 also keeps the idea of a triangle valid, either too a flat correction of course!
Have a great day...
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!