Hello Traders,
Back after a somewhat prolonged illness.
Hang Seng is „dancing“ on a cliff! A drop below the support zone @ 23697 could have tremendous impact on the midterm chart picture.
It could open the door to 23K area, and below, if so to come, to 22550 and 214xx levels.
More bearish potential exist.
After a 3-years lasting decline for the Hang Seng, a recovery may be possible, but with the negative social mood in back, it is hard to believe.
Anyway. This week's „contact“ with the support level looks like buyers have bought here, and a new phase of selling pressure was not to watch.
As long as this level is valid, there is the chance to move to 26560 zone. Step by step!
Be patient this day's.
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
Back after a somewhat prolonged illness.
Hang Seng is „dancing“ on a cliff! A drop below the support zone @ 23697 could have tremendous impact on the midterm chart picture.
It could open the door to 23K area, and below, if so to come, to 22550 and 214xx levels.
More bearish potential exist.
After a 3-years lasting decline for the Hang Seng, a recovery may be possible, but with the negative social mood in back, it is hard to believe.
Anyway. This week's „contact“ with the support level looks like buyers have bought here, and a new phase of selling pressure was not to watch.
As long as this level is valid, there is the chance to move to 26560 zone. Step by step!
Be patient this day's.
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!