Hello Traders,
Hang Seng may bottomd yesterday @26219.6.
Todays gap up was possibly an „Breakaway-gap“! While no data for Volume is avaliable to me, you can check the Volume by your own. If there is a high volume to observe, the odds do increase for that gap! Those kind of gaps get sometimes closed, sometimes not.
A solid supportzone is around the 26517.7-26386.6 area (0.618 and 0.786 FibRT).
One more fingertip within the next hours and days is when another gap to the upside appears, a so called „runaway-gap“!
A targetzone for the running move, if he need one more up sequence is at 27200 zone. Here, a wave 4 of lesser degree took place.
The alternate interpretation is that the running move is part of the developing decline within the last days. I need to see more structure in the coming tradinghours.
Have a great week...
ruebennase
Hang Seng may bottomd yesterday @26219.6.
Todays gap up was possibly an „Breakaway-gap“! While no data for Volume is avaliable to me, you can check the Volume by your own. If there is a high volume to observe, the odds do increase for that gap! Those kind of gaps get sometimes closed, sometimes not.
A solid supportzone is around the 26517.7-26386.6 area (0.618 and 0.786 FibRT).
One more fingertip within the next hours and days is when another gap to the upside appears, a so called „runaway-gap“!
A targetzone for the running move, if he need one more up sequence is at 27200 zone. Here, a wave 4 of lesser degree took place.
The alternate interpretation is that the running move is part of the developing decline within the last days. I need to see more structure in the coming tradinghours.
Have a great week...
ruebennase