HSI
Added 2024-09-12 10:39:04 +0000 UTCLike $AMD, we also have a double test of the 0.618 Fib on the HSI chart too
Price pulled back to the larger white 0.618 Fib in August and held, when the market flushed on the 5th of August around the world
Followed by a bounce and another pull back again, testing and so far holding on the smaller green Fib 0.618 fib level.
Most importantly, is that this current 0.618 Fib is also the 200 Day MA, so this is a confluence level
Price is now between the 50 and 200 Day MA and this will likely squeeze now shortly and as we know, when the price gets squeezed between these MA's, the price action must break up or down.....we want it to break up
$BABA is showing bullish signals along with other Chinese ADRs, $BIDU may have found its local bottom too
So lets stick with this and monitor it now.
