HSI - Potential Bearish Engulfing on Weekly Close
It is very crucial for the last trading day of January 2021.
If the weekly candle close below last week low, it will engulfed by a larger red candle indicating a shift toward lower prices.
1. As proven on last trading week of January 2018, 2020 which was also year high for that particular year when this happened.
2. Being resisted twice by 2019 year high at 30,280.
So, is the trend repeating? Is the market already top for the year of "BULL" (2021)? I hope not.
However, the past performance is not always*(sometimes it does)* indicative of future results.
Be cautious. Stay safe and Gong Hei Fat Choi! <3
If the weekly candle close below last week low, it will engulfed by a larger red candle indicating a shift toward lower prices.
1. As proven on last trading week of January 2018, 2020 which was also year high for that particular year when this happened.
2. Being resisted twice by 2019 year high at 30,280.
So, is the trend repeating? Is the market already top for the year of "BULL" (2021)? I hope not.
However, the past performance is not always*(sometimes it does)* indicative of future results.
Be cautious. Stay safe and Gong Hei Fat Choi! <3
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