Hello Traders,
HS is moving in a sideways consolidation and is embedded in a bearish flag. This move hasn't touched the 0.382 Fibo of the latter advance and is the minimum target I'd like to see for the end of the flag!
So it could be that HS is „gambling“ around the 26782 level and moving in the trend channel (green lines) for some days.
Any break of the 27040 level would imply that a wave (iii) of ((iii) has started and would be a strong advance to higher levels around the 29-30K area!
A break of the lower boundary of the channel give more potential for weakness development in the coming week (possibly) and could range from 26200-25848 level.
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
HS is moving in a sideways consolidation and is embedded in a bearish flag. This move hasn't touched the 0.382 Fibo of the latter advance and is the minimum target I'd like to see for the end of the flag!
So it could be that HS is „gambling“ around the 26782 level and moving in the trend channel (green lines) for some days.
Any break of the 27040 level would imply that a wave (iii) of ((iii) has started and would be a strong advance to higher levels around the 29-30K area!
A break of the lower boundary of the channel give more potential for weakness development in the coming week (possibly) and could range from 26200-25848 level.
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!