HSI Trend on Jan 2020
The Hang Seng Index has been moving within an upward channel since Aug 2019, which is around 5 months time.
Now it is at the top of the channel and is due for a correction. My guess for the correction would be at least to 27700.
Then we would watch the level 27470, a critical level above the big gap up.
If that gap is NOT filled, it would be bullish and the index may boost to 29500 level or higher.
If filled, I guess it would go back to around 26500 level, which is the bottom of the channel.
Now it is at the top of the channel and is due for a correction. My guess for the correction would be at least to 27700.
Then we would watch the level 27470, a critical level above the big gap up.
If that gap is NOT filled, it would be bullish and the index may boost to 29500 level or higher.
If filled, I guess it would go back to around 26500 level, which is the bottom of the channel.
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