Hang Seng.....All of wave ((iv))?Hello Traders,
Hang Seng has made a new low at 28957.31 yesterday. It nearly touched the uprising trend line, which connects the highs of waves (i) and the low of waves (iv) and bounced today within a 784.56 points advance to 29880 on a closing price.
The low at 28957 is either all of wave ((iv)) or it is wave (a) of ((iv))!
In the latter case, today's advance is part of wave (b) what can develop into a flat or a variation thereof. Note that the pattern of the correction between waves ((i)) and ((ii)) took the shape of an „expanding flat“. Following the rules of alternation, it could be that a flat or a triangle is under construction!
At the bullish case, it needs to pop above the high at 31183.36 to clear the view and judge that wave ((v)) is underway.
Have a great week.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
