This trading week ended with some interesting results so let's describe some of the interesting moments for HSI.
D1 price and H4 price are
located on the bullish area of the chart with the ranging within key
narrow s/r levels. The secondary correction is going to be started if
the price breaks 21,841 support level to below on close bar with 21,666
target to re-enter, otherwise - ranging bullish trend will be
Chinkou Span line is located above
the price indicating the correction to be started in the near future for
both timeframes, and Absolute Strength indicator is estimating the
local downtrend in the secondary ranging way within the primary bullish market condition.
If H4 price breaks 21,841
support level on close bar so the local downtrend as a secondary
correction within the primary bullish market condition will be started with 21,666 target to re-enter.
If H4 price breaks 22.324 resistance level on close bar from below to above so the primary bullish trend will be resumed.
If not so the price will be on ranging bullish within the levels.
SUMMARY : bullish