Forecast for Q2'16 - levels for Hang Seng Index (HSI) - page 2

New comment
 

Hang Seng Index Pivot Points Analysis - bearish ranging between Yearly Pivot and first support pivot level

W1 price is located to be below yearly Central Pivot at 23,408 and above S1 Pivot at 18,192:

  • the price is on bearish ranging between pivot level at 23,408 and S1 level at 18,192;
  • the price formed descending triangle pattern to be crossed for the bearish trend to be continuing;
  • if weekly price breaks S1 Pivot at 18,192 so the primary bearish market condition will be continuing;
  • if the price breaks Central Pivot at 23,408 so the bullish reversal will be started.


InstrumentS1 Pivot
Yearly PP
R1 Pivot
Hang Seng
 18,192 23,408
 26,564
 

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2016.06.24 16:07

The Brexit Result Will Have China Worried (adapted from the article)

  • "Brexit means that Beijing will lose its strategic access to Europe through Britain."
  • "Chinese Foreign Ministry spokesperson Hua Chunying tried for a balanced approach on Friday afternoon, according to Chinese state media, noting that China respected the British people’s choice while also hoping that the U.K. and E.U. could reach a successful agreement."
  • "Still, on Friday Chinese state media stayed away from the large-font Brexit headlines that dominated much of global press coverage."

====

USD/CNH H4: bullish breakout. The intra-day price is on breakout with the bullish reversal: price broke Ichimoku cloud to above for the primary bullish market condition with 6.6514 resistance level to be crossed for the bullish trend to be continuing.
By the way, the daily price is on bullish breakout to be started today on open D1 bar, and the weekly price is on primary bullish market condition with 6.6152 resistance to be crossed to above for the close weekly bar for 6.7681 possible target.


====

Hang Seng Index H4: bearish breakdown with the ranging to be started. The price broke ichimoku cloud to below for the primary bearish market condition. Price is testing 19,749 support level with 19,566 bearish target and with descending triangle pattern to be formed by the price for the bearish trend to be continuing.



12
New comment
Reason: