C stands for China - update
Hang Seng index had a perfect backtest of monthy trendline, I think it's a short here and if you look at the news, the fundamental reasons are there as well.
Common targets for the C wave would be equal to the previous A wave (around 12k) or, if things get really ugly 1.272 of A - which would be around 6500. Both areas have strong horizontal support. The Monthly BB was the area for the recent bounce (not shown), but the Monthly Slow Stochastic will likely close with an embedded bearish reading.
Common targets for the C wave would be equal to the previous A wave (around 12k) or, if things get really ugly 1.272 of A - which would be around 6500. Both areas have strong horizontal support. The Monthly BB was the area for the recent bounce (not shown), but the Monthly Slow Stochastic will likely close with an embedded bearish reading.
Nota
TV cut off the chart, here you can see the support at 6500 Nota
monthly bullish engulfing candle - this correction may already be doneNota
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