Hang Seng HSI
Hang Seng If the recent developments in the markets hold and fear dissipates, I think a play on Hang Seng index would be terrific opportunity. To be sure, I am still expecting a slight pull back to around 18500.
This index is peculiar in the sense it has some good correlation with China but is not as violent as CSI index.
For someone with high risk appetite, this should work well. Some risk money could be allocated here.
Note: This is not exactly a China play. It's more of decoupling from the ridiculously elevated level of coupling play.
Short term set upThose who follow me know my opinion for 2016 is not exactly bullish,
but for the purposes of having fun trading, here is a short term set up.
IF CHINA FINISHES UP OVERNIGHT AND TOMORROWS ECON REPORTS ARE GOOD.
China, as of writing appears to be up over night.
We finished today with a long legged doji.
People will get greedy and buy on lows.
Happy trading, cheers.
Hong Kong HSI Index Daily (04.Oct.2014)Tech.Analysis TrainingThe Hang Seng Index (HSI) Daily Diagram Technical Analysis Training shows the following:
The HSI index has declined more and now is under the KUMO and EMA200 too. MACD is bearish and RSI is entering oversold levels.
So the first think in mind is that HSI will test the 22120 support.
There is no special candlestick pattern. The index is under the Tenkan Sen and Kijun Sen too (bearish). The index broke the EMA 200 and now it is under it.
Fib shows the 2.618 support at 22120.
Short for 22120 but be cautious for a reaction towards to EMA 200.
Hong Kong Protests Pushing HSIndex LowerWith the two day holiday in Hong Kong starting tomorrow the white collar sect of Hong Kong will be joining the demonstrations condemning Xi Jinpings proposal to screen candidates for the 2017 leadership election. I am looking at the index heading back towards the lows of May with the 0.236 fib level likely to act as the next support.