Well well it has been another bearish week for the HSI. The market had already corrected by about 14% from its top at 23000. The next supporting level will probable be 19000 and maybe 18500.
3 Months Daily Chart
On the three months daily chart, the market is in a confirm downtrend. It is very likely that the market will go even lower this coming week.
1 year Weekly Chart
The HSI is staying below the 30 wk EMA. The 13 wk EMA and the 30 wk EMA are both turning down. All these are bearish signal. Despite all this, I believe we are still in a bull market. This is a correction that needs to be happen after the HSI had rally from 12000 to 23000. The overall economic fundamental are good. So it there is some good company at attractive price. I will recommend buying those company.
Remember Buy when others are selling and Sell when others are buying.
Article by
Trading Room
www.tradingforreal.blogspot.com
Subscribe to:
Post Comments (Atom)
Subscribe To Trading room
Posts
Comments
No comments:
Post a Comment