HSI bias upside with 22k resistance10th Dec 2022
One month ago, I did mention to check on the Nov candlestick whether did the price closed above 18k.
Since Nov monthly candle closed above 18k, it is a good sign for HSI to recover and it closed near to my target of 20k last Friday.
Next resistance: 22k/23k.
Hang Seng HSI
Hong Kong Stock Index (The rebound is in the making)Hong Kong Stock Index (14 Nov 2022)
HK index is in the pull back phase and I reckon it shall continue for quite some time.
18,000 is a good strong resistant but the pull back down shall be mild.
The nearest strong support is 16,000 and it shall go higher and higher again.
19,000~20,000 will be the strong resistant region. Then, we will talk about what's next.
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HSI heading SouthHang Seng Index rebound should have finished around 19500. Stochastic is overbought and the rebound is still below 60 week moving average
which means the downtrend have not been changed. Property market, and the lack of factory order in China, should still hit Hong Kong economy
Next year, most of the Economy will fall into recession, even Taiwan Central Bank is expected major economies will fall into recession in 2023https://www.cbc.gov.tw/tw/cp-302-156071-41d1b-1.html
HSI - Bull signal is hereComment :
1) TrendX+ indicator - wandering below red trend line, still mid-term downtrend
2) DDX+ indicator - Bull signal shows up, looking forward a short-term long position
3) MCDX+ indicator - weak banker bar (red) cross-up MA10 line, while retailer bar (turquoise) has occupy more than 50%
Support & Resistance :
R : Resistance line A
S : Support line B
DISCLAIMER:
Analysis above SOLELY for case study purpose, not a PROFESSIONAL ADVISE. This analysis does not provide any trading advise and buy or sell. Trade at your own risk. Trade only after you have acknowledged and accepted the risks involved.
HSI/SPY - time to be aware of ChinaKeep in mind this is a monthly chart, so we're looking at years and decades here.
This ratio chart of the HANG SENG INDEX divided by SPY is warning of a coming rush by investors into the Chinese markets. The China C wave I posted about may be done (see post attached below). If this falling wedge breaks out we could see a monumental shift towards the Chinese markets in the coming years, possibly spurred by their willingness to relax Covid controls and/or get better vaccines. This is a market mostly ignored by retail investors and that may change soon.
The monthly RSI has sharp bullish divergence. The monthly 18ma is sitting at 51.3 as I type today, getting over and holding that on a monthly close would be very bullish for HSI.
Good luck!
Weekly UpdateWeekly Update
Overview
In the overview the following assets/regions are represented from left to right:
Dollar Index , S&P 500 (USA), DAX (DE), Hangseng (China), Gold , BTC .
The charts are presented as a weekly chart, thus the last candle visible presents the last week.
The dollar has further collapsed and thus the indices had further air to the top. Nevertheless, we could already see weakness in the uptrend in the S&P 500 and the DAX.
The DAX was able to close the last 3 weeks positive, but the upward movements were rather already sideways movements than clear breakouts to the top. The SPX could still record stronger uptrends, but these are also already losing strength.
Gold could also again benefit strongly from the falling dollar. The BTC could rise slightly, but currently it did not record any meaningful movement.
Dollar Index
For now, the Dollar Index looks like it will target the orange area next, so it is still falling. Once we reach the orange area, the dollar should recover.
S&P 500
If the dollar now still tests the orange area, the indices will also be able to rise again or we rather expect sideways movements or a final breakout to the upside. After that, if the dollar at the orange area should form a bottom or at least see a recovery, the indices will probably slip again, whether we then see a complete crash, or only a smaller correction of the indices is not yet assessable. Due to the weakness of the indices, we assume at least a clear correction.
DAX
The DAX looks similar to the SPX , except that already the last few weeks no real upward trend could be seen. Here we assume that, except for a small last pump, we will see a clear downward trend in the coming weeks.
Economic Indicators
The economic data is neutral for now.
Results of economic indicators are relevant this week:
Monday: Retail Sales (DE), Factory Orders (USA)
Tuesday: Factory Orders (DE)
Wednesday: GDP Growth (EU)
Friday: Inflation Rate (China), PPI (China), PPI (USA),
Forecast
We now expect another correction, so we keep our feet still and wait for attractive entry prices.
We will keep you informed!
We wish you a nice Sunday and a successful week!
Stocks & Crypto QuickFire: Time StampedTimeStamps:
DOGE 0:18
SOXL 3:22
PYPL & DKNG 5:22
LTC 7:46
ETH 8:50
HSI 9:50
GOLD 12:00
PHUN 13:40
SLP 14:58
MSFT 16:14
NVDA 17:10
TSLA 18:00
AUDCAD 19:04
I say something like 17-6 in the beginning when I'm looking at DOGE. I meant to say 7.6 cents when referring to 7.6 cents being a smaller position entry area and 6 cents for a more sizeable one.
HSI bias upside with 20k resistance12th Nov 2022
Monthly Chart HSI.
Worth paying attention back on HSI after monthly chart showing bullish engulfing candle stick.
However the month have not end yet. Continue to watchlist HSI and if price did not over the previous month low, a good support area is form.
Bias on the upside to 20k.
HangSeng waiting to “boom” = Bright future HongKong. 6/Nov/22Hong Kong’s Hang Seng Index have backed to “square one”?.. As its price slightly below its 25 years level ( 2020 - 1997 ).. BUT chart tell me different stories as I trade what I see “first” then what I think “second”.. where my “thinking” possible have bias and prejudice. You probably see lot of “doom” comments from western media or “westerner educated” Chinese’s “expert “ themselves...
$HSI Hang Seng Index Can Rise Up - Inside and FCP Zone NowTraders, I have been covering indices in depth latetly and what I see a common pattern is that US Indices has started to bounce back. US3 has been gaining for last 3 weeks or so, SnP500 is lower but gaining and NASDAQ is the only one which gained slowest. Hang Send Index (HSI) has reached 2008 levels but forming an M pattern. It is now inside an FCP zone which can push it upwards. Now think about the consequences of that.
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The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
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Hang Seng Index - When will it bounce?Over the weekend, a lot of synchrony and less optimistic outlook was posted.
So, here we take the opposing view and look for when the Hang Seng Index might bounce off what it finds as a bottom.
From the weekly chart, it is very clear that the HSI has had two consecutive hard years, since 2021. An early January rally fizzled out and downdrafts take over for the rest of the year. This end of 2022 however, appears to hold a rather oversold HSI, and with the TD Sequential almost ending, it might be worth to look at possible TD Flips and then a good effort to bounce.
While the TD Sequential buy Setup is almost complete, the index is now also far out of the 3.5 SD on the Bollinger Bands. Like an overstretched rubber band, this appears deeply oversold. MACD is not yet letting up so there is some downside to dowside consolidation to occur before a bounce can be mounted. Upon re-entry within the 3.5SD band, that is where a TD Flip and a bounce might occur.
This is projected to be about 15,500-16,000; about another 1000 points from where it is today.
Any close below the red support line means that the bull case rebound is further extended, and may need a relook. Otherwise, a spike down and then a consolidation might happen, with a break above the resistance line (green) to indicate an about turn from bear trend to bull trend. This event should take place about mid-November up to Decemnber. By then, there should be enough follow through...
Watch for these first:
1. TD Seq Setup completion and perfected, with a following TD Flip;
2. A re-entry into <3.5 SD of the BB band;
3. a set of higher lows and once broken the resistance line; and
4. MACD crossover on the Signal line, and then above zero.
Wait for it...
PS. Note the green ellipses that go back to 2016. These are times of downtrend that see a reversal from the bottom.
HSI Rebound Is Highly ProbableHSI has negatively reacted to China's 20th Party Congress, but is now very likely to experience a strong support on 2W charts.
As you can see, we have reached a very strong support zone, from which HSI has rebounded everytime.
I am personally going long on NASDAQ:BILI
as it's analysis is also showing a very strong likelihood for short/mid-term rebound since the asset has fallen by roughly -93% from it's top.
HongKong - Most oversold in decadesHSI is at the most oversold in decades, touching the bottom of its monthly uptrend channel.
Valuations are at its rock-bottom extremes with very poor sentiments, on the back of the Congress Party closure without good news.
Reward-to-risk is high, especially if reversion to the mean happens.
29/9/2022 PLAYBOOKHKEX:HSI1!
Intraday pivot: 545/505 as long as these held, bulls are in control
#marketprofile #volumeprofile #orderflow #chartanalysis #chartporn
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Time To Keep An Eye on ADRsWith China opening up and realizing a zero Covid policy doesn't work we should begin to see the country get itself back on track. In addition, China will be buying millions of barrels from Russia, soon.
I've attached my levels on the Hang Seng Index. Keep an eye on those ADRs BABA, JD, NIIO, etc.