A Rising Wedge formed and peaked at a major support level. Price is at the neck of the wedge and will not have room for daily volatility in the next session or two. Price is also walking the outer Bollinger band which is indicating a retracement down to the target zone at the middle Bollinger band. Consensus: The Rising Wedge and Bollinger Band's are indicating a selloff; a Rising Wedge signaling a breakout and the Bollinger Bands setup for a retracement back to the center band. It is highly probable that the HSI will selloff for the next week or two.
Note
Failed IdeaNote
Trade Idea VOIDED on 7.31.17
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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.