Hang Seng Index “daily” Chart
We are cautious on the broader chinese stock market.
Today’s chart focuses on the Hang Seng Index and its recent bearish price action.
After what appears to be a wave 4 rally, the chinese stock market index is reversing lower and recently broke down through a trend support line.
We have a Money Flow Unit 3 (MFU-3) price target down at 20805, so this looks like the start of a leg lower.
We are bearish on the Hang Seng Index.
The author may have position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
