Hello Traders,
Hang Seng gaped to the downside today, opened Friday`s session with a huge 524 point gap! The indication for a change of trend is true and probably a „breakaway-gap“ which occurs at the start of a move! The critical level to watch in the coming days is @ 24528.9, the high on May 21 (blue arrow)!
Indicator`s on a daily timeframe past their „zero-lines“ and moved into negative areas (daily).
It is not unusual that after such massive drops, markets react to the opposite side of the gap, meaning short term buyers should move to the trading floor and scalp a bit! But it is not required.
As long as the level of 24528 is valid, the focus is on the downside with much more bearish potential!
A move above the range of the wave „z“ high at 24855 on May 29 is necessary and makes a new validation necessary.
Have a great weekend....
ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
Hang Seng gaped to the downside today, opened Friday`s session with a huge 524 point gap! The indication for a change of trend is true and probably a „breakaway-gap“ which occurs at the start of a move! The critical level to watch in the coming days is @ 24528.9, the high on May 21 (blue arrow)!
Indicator`s on a daily timeframe past their „zero-lines“ and moved into negative areas (daily).
It is not unusual that after such massive drops, markets react to the opposite side of the gap, meaning short term buyers should move to the trading floor and scalp a bit! But it is not required.
As long as the level of 24528 is valid, the focus is on the downside with much more bearish potential!
A move above the range of the wave „z“ high at 24855 on May 29 is necessary and makes a new validation necessary.
Have a great weekend....
ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
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免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。