Hang Seng Index
Added 2024-01-17 21:39:21 +0000 UTCSo this is what has been causing the issues for the Chinese ADRS, we can see that the pull back since that this chart is remarkably similar to that of $BABA and has been in a strict downward channel since the start of 2023.
14600 is the crucial level to watch for now.
We can see that the HSI has worked its way down through all Fib levels and the next test will be the 14600 low in 2022.
So I do not believe the pain is over just yet but we want to see a hold on this level, making a lower low means this is at risk of trying to find a new support level and this is new territory for HSI, so it is at risk of going much lower.
Comments
hopefully. noon at 2:20 is positive of 0.7% but not much of any bigger move
Jedi
2024-01-18 06:18:39 +0000 UTCSeems like it’s going back 20yrs. Wild.
G
2024-01-17 21:56:57 +0000 UTCOn a positive note….if we get a retest of the low, and it successfully holds….then there should be a major bull run this year in HSI. NIO and BABA would benefit from this.
Lucho
2024-01-17 21:43:00 +0000 UTC
