HSI
Added 2024-06-14 11:58:11 +0000 UTCFinished the week testing the 50 Day MA again for the second time above the 0.5 Fib.
A second test and hold of a support is usually enough for us to confirm support confirmation but I will wait until I see a bounce to confirm this.
I had added in the 0.618 Fib below for reference if the 0.5 Fib is now held and we can see that this is also above the 200 Day MA too.
Wave 4 pull backs are not expected to be as deep as Wave 2's, so although the impulse wave would still be valid down to the 200 Day MA, as this would not infringe upon Wave 2, I would not like to see the 0.5 Fib lost here.
Let's see if Chinese policy makers use Monday morning again to make a positive announcement for the market.
