Weekly Analysis - HK 50

Last week, HK50 finally tapped 17100 level but it retracts back to 16700 level to close the week. This week, based on the 1 hour and 4 hour time frame structure, it looks like we are starting to form a bearish structure with a lower high and lower low. I will need more confirmation that we are heading back down, thus my sell level remains at 16369. Once that level breaks, we will go straight to 15900 level.

For buy, it might be tough to enter buy as there is no sight of higher high and higher low just yet. I will wait for the 1 hour candle to start closing above 16880 level before considering a buy position