Hang Seng....Double-top or new high ahead
Hello Traders,
Hang Seng has met the 28634 area for the second time the past week. It looks like a „double-top“ in progress, but the odds do favor a more up move in the coming hours. If so to come, the target area is at 26744, which is a 1.618 Fibonacci Extension and the zone at 29137, which includes the range for a wave ((3))!
Short term the level of the wave (4) low @ 28030 is important to watch and should be valid. May a pullback to occur to the uprising boundary of the trend channel, but not expected!
We will discuss nay developing pattern in the coming hours here!
Have a great Sunday...
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!
Hang Seng has met the 28634 area for the second time the past week. It looks like a „double-top“ in progress, but the odds do favor a more up move in the coming hours. If so to come, the target area is at 26744, which is a 1.618 Fibonacci Extension and the zone at 29137, which includes the range for a wave ((3))!
Short term the level of the wave (4) low @ 28030 is important to watch and should be valid. May a pullback to occur to the uprising boundary of the trend channel, but not expected!
We will discuss nay developing pattern in the coming hours here!
Have a great Sunday...
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!