Hang Seng.....Be patient!Hello Traders,
at my latter analysis I wrote this:
„What does it mean for short term traders?
I like to see a „break“ of the high's at 29101 and 29152 on an hourly basis at minimum! Strong volume to the upside would strengthen the bullish view.“
It did not happen and HS breaks below the rising trend line, blue. This move was not expected by myself.
Hang Seng has made a low at 28274 and is rising since.
I have re-adjusted the trend line and a break to the downside could open the door to 28274 again. The level to watch is the possible wave ((iv)) low at 27505.
A rise above 29152 on a daily close open the door to -+29600 area. If this move occurs, a could be a wave „b“, `cause the decline from the possible wave ((iii)) high at 31183 looks like a „three-down“!
Anyway, we will wait and see what should be next for Hang Seng.
Have a great week.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
