HSI
Added 2024-08-22 12:56:17 +0000 UTCI just have some time to look over some charts before I add more after 12 noon EST.
HSI had a positive day up 1.4% and we can see that a test of the 0.5 Fib was made this week and has bounced here now but stopped at the 50 Day MA
So we know the price action is respecting support and resistance levels
Likewise, if the price action can flip the 50 Day MA to support then the trend is confirmed for the bulls.
We can see that the price is in between the 50 and 200 Day MA, and this range is very tight, I do not expect the price to stay here for long
So a breakout is what we want to see, we do not want to see the price losing the 200 Day MA but we can not rule that out happening at this time.
