Hello Traders,
HangS eng made a low at 24424.74 on Friday. This low wasn't sold by traders and Investors; they bought the index, what could be a positive sign for the next days, maybe weeks ahead!
As long as Friday's low is valid, there could be a countertrend-move underway. It can morph into more!
Targets for this idea, are at or around the 24978-24151-15326 area. More bullish potential exist!
A break of Friday's low would open the door to the support-level (green trend line) at 23700 level!
Overall to speak; HS must interpret as a „bearish-market“; with a lot of risk, `cause of the acting Chinese government!
It needs a break of the ~26800, level to clear the view in case, that a corrective phase in the market, lasting since the high in 2018 should come to an end!
Have a great Sunday
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
HangS eng made a low at 24424.74 on Friday. This low wasn't sold by traders and Investors; they bought the index, what could be a positive sign for the next days, maybe weeks ahead!
As long as Friday's low is valid, there could be a countertrend-move underway. It can morph into more!
Targets for this idea, are at or around the 24978-24151-15326 area. More bullish potential exist!
A break of Friday's low would open the door to the support-level (green trend line) at 23700 level!
Overall to speak; HS must interpret as a „bearish-market“; with a lot of risk, `cause of the acting Chinese government!
It needs a break of the ~26800, level to clear the view in case, that a corrective phase in the market, lasting since the high in 2018 should come to an end!
Have a great Sunday
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!