Is it time for a Rebound?
Hang Seng tested ist longterm trend lower edge.
With the slipping through its EMA & SMA 200 a strong Sell-Signal appeared and led to it, that the Index crashed and closed the third day out of ist Bollinger Bands. It is a "falling-knife-situation"!
Statistically thats not "normal".
The probability that the Index jumpes back into ist BB is given now. A Rebound to the Minimum correction Level 38,2 fibo-retracement (24.610) can be exspected.
The Situation is strongly oversold, have a look @ the RSI.
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With the slipping through its EMA & SMA 200 a strong Sell-Signal appeared and led to it, that the Index crashed and closed the third day out of ist Bollinger Bands. It is a "falling-knife-situation"!
Statistically thats not "normal".
The probability that the Index jumpes back into ist BB is given now. A Rebound to the Minimum correction Level 38,2 fibo-retracement (24.610) can be exspected.
The Situation is strongly oversold, have a look @ the RSI.
If you like my analysis and find it useful, please take a second and hit the LIKE button and follow me. It takes some time to create these posts and your LIKES let me know it is helpful to you. As always, any comments are welcome. Agree or disagree.
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