Hang Seng Index may be bearish in coming 6 months

When checking the Hang Seng Index HSI monthly chart, you can see the HSI has finished the wave 1 to 5 and starts to go from wave A - C. HSI is now testing the strong resistance at aound 29,000 to 29,100. If this resistance cannot be breakthrough, it is likely that HSI will start to go in wave C. According to the Fib, the first target will be 22843 which is 0.5 level of Fib extension. If the bearish force won't stop at this point, it may test the 0.68 level, that means 20331.

Comentário:

HSI faces a very strong bearish downtrend. It will only bounce back to 0.382 level to 25254. Then, the strong down movement will push it below 20000.