HSI need to prove to stay above 29900 and higher
HSI is stuck within 29900 - 29500 area. the range become smaller and we have shifted down balance after the high of Apr'19 . Today, HSI bounced at 29600, this was showing that market still "hopping" for long term bullish. But I don't see any market conviction yet on the up side. 29900 still the bracket for couple of days. we are in distribution pattern, but will see if the market can change this become re- accumulation for longer better out look. For Now, there is no strong holder on up side here, and no new seller. peoples just buy at low and givin'up at the strength. i scalp it every day, and just get out at every intraday support and resistant. I have no confident for holding longer. I plan to ride the break of 29900 to test 30100 - 30200 level.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.