HSI
Added 2024-11-26 10:08:09 +0000 UTCThe HSI just sitting on the 0.618 Fib on the day that Trump announces his Tariff plans is as close you'll get to price action corresponding to impending news.
The main headline was not the Tariff on China but on Canada and Mexico (The US's closest Trade partners) meaning, if the US is willing to do this to them, they are willing to do it to any country or Bloc (EU possibly)....which also means China will be treated in line with everyone else
I personally think Trump won't go hard on China because he is concerned of their response and Elon is likely playing a big part in this.
If China wanted to cause an inflation issue for the US, they could do this quite easily, a stimulus package aimed at increasing the price of commodities would directly affect inflation in the US....and the US can not afford to be in a rising inflation issue right now.
On the chart, this where we'd like to see a reversal, as always on the 0.618 Fib
However the 200 Day MA just slightly above the 0.78 Fib can not be ruled out.
In spite of Chinese ADRs pulling back more than expected, the HSI has not.
