HSI
Added 2024-07-11 09:27:33 +0000 UTCYesterday we spoke about $BIDU and $BABA starting to front run the HSI, particularly $BIDU as it has rose 16% in a few days, we then saw $BABA move up to test its 200 Day MA yesterday and above it now in the PM.
Then today, Chinese regulators put more curbs on Short Selling in Hong Kong and it was a perfect combination for the HSI to move higher and bounce on the 0.618 Fib at 17,449 and finished up 2%.
We need to start seeing a higher high and higher low in next few sessions and once the price can get above the 50 Day MA at 18,300, we can confirm a reversal, not until then.
We can't rule out a test of the 200 Day MA either.
$BABA and $BIDU continuing to move higher will help its cause here.
