HK50 Weekly Analysis

Starting from the weekly candle, last Friday first spike down, touched 16127 then reverse back up 300 points. Overall, it's been 2 weeks in a roll it closes firmly above 16000 level. For this week target, as long as HK50 can start to firmly clove above 16800, we can start to eye for that ultimate resistance of 17100. I still believe that 17100 is a make or break level in terms of whether if we can start reversing the bearish trend or just a double top back to the down side. I will update this analysis once I see a more clear signal.

For buy, I will be considering as long as the first 1 hour candle can close above 16843. The TP can be somewhere at 17101

For sell, as long as the candle starting to close below 16422, I can start to look for sell back down to 16127