HSI
Added 2024-05-24 08:41:56 +0000 UTCContinues its pull back today and moving nicely down to the 0.38 Fib at 18,329.
On the daily chart, it is not clear that there is 3 waves in this pull back, so a relief bounce before pulling back to the 0.38 Fib would be a normal sight.
I believe this overall structure remains in an impulse wave and the 50 Day MA crossing the 200 Day MA for a golden cross reinforces this sold impulse structure.
The RSI has also pulled back to a reasonable level now at 57, after going extended to 85, this was unsustainable to stay at that level, so the pull back has certainly strengthened things now already.
Let us continue to wait for support to be found but we are getting closer.
Comments
Once it finds support, are we buying the EWH?
Nate
2024-05-26 11:23:57 +0000 UTC
