Price Action Recap (Last 4 Trading Days):
🧯 Volatility is now at recent lows, and today's price action lacked direction.
📊 Despite still trading above MA10 and MA58, the short-term momentum seems to be fading.
My View:
We're potentially in a short-term reinforcement or minor retracement phase.
Some wave-based projections see HSI in the 2nd wave of an irregular flat (335), aiming for 24,800+,
but I'm sceptical due to weak local fundamentals and earnings outlook.
📌 Watch for tomorrow’s open — a gap down would confirm short-term weakness.
- Day 1 (8/5 Thu): High volatility
- Day 2 (9/5 Fri): Inside bar — consolidation
- Day 3 (12/5 Mon): Gapped up post-15:00 on tariff news
- Day 4 (13/5 Tue): Failed to follow through → another inside bar
🧯 Volatility is now at recent lows, and today's price action lacked direction.
📊 Despite still trading above MA10 and MA58, the short-term momentum seems to be fading.
My View:
We're potentially in a short-term reinforcement or minor retracement phase.
Some wave-based projections see HSI in the 2nd wave of an irregular flat (335), aiming for 24,800+,
but I'm sceptical due to weak local fundamentals and earnings outlook.
📌 Watch for tomorrow’s open — a gap down would confirm short-term weakness.
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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.
Related publications
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.