HANG SENG INDEXLong
HSI Rally To Begin
Fib Trace A isn't finished yet
* HSI support found at 22,265 (76.4% support)
* Temporary peak at 24,313 but i) it hasn't reached 23.6% resistance (24,493) and ii) RSI hasn't reached 70 yet
So scale down. and look at Fib Trace B
* Fib Trace B support found YESTERDAY at 23,252 (61.8% support)
* Next resistance should be at 23,900-23,956 (Fib B 23.6% resistance, Fib A 38.2% resistance)
So magic number = 23,900
If / when HSI surpasses 23,956, the rally should take it to 24,493
* HSI support found at 22,265 (76.4% support)
* Temporary peak at 24,313 but i) it hasn't reached 23.6% resistance (24,493) and ii) RSI hasn't reached 70 yet
So scale down. and look at Fib Trace B
* Fib Trace B support found YESTERDAY at 23,252 (61.8% support)
* Next resistance should be at 23,900-23,956 (Fib B 23.6% resistance, Fib A 38.2% resistance)
So magic number = 23,900
If / when HSI surpasses 23,956, the rally should take it to 24,493
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