HSI
Added 2024-06-11 10:14:31 +0000 UTCUnder pressure today as the market waits for the US CPI print and lost the 0.38 Fib as support, this happened on the 31st of May too but was recaptured the next day, so we will watch for how the market reacts to this.
I am not overly concerned however, the 0.5 Fib and the 50 Day MA are at the same level at 17,887, making this a confluence level
However a lot will come down to the CPI print in the US today, a cold print and the market will be bullish for a Rate Cut again.
If the CPI print is unexpectedly hot, then there could be ramifications felt in the US and then possibly around the globe.
The HSI structure remains strong and bullish and we were expecting some volatility this week, no requirement to do anything here with our holdings.
