Weekly Analysis - HK50
Since March 5, HK50 has been ranging between 16122 to 17101. This is mostly due to the lower volume of trade. Last week it looked like we might finally see a break thru between range; however, it still failed to close below 16122 level.
This week, overall, I am bearish for HK50. However, watch out for the first day of spike up to grab more liquidity. Once the 4h candle starts to close below 16122 level, I will comfortable to enter sell, TP can be roughly 15700 level.
As for buy, it might be little bit tough as we are now forming a lower low low high pattern. Thus, I will need more confirmation before I can enter a buy.
This week, overall, I am bearish for HK50. However, watch out for the first day of spike up to grab more liquidity. Once the 4h candle starts to close below 16122 level, I will comfortable to enter sell, TP can be roughly 15700 level.
As for buy, it might be little bit tough as we are now forming a lower low low high pattern. Thus, I will need more confirmation before I can enter a buy.
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