HSI1! 2021 Sep 20 Week

HSI1!

HSI1! 2021 Sep 20 Week

Weakness played out last week and market was supported at about 24587, this is the 50% of the Feb 2016 - Jan 2018 uptrend.
If there is a breakdown and this becomes resistance, market would see more down side.

The last up move from 20 Aug - 08 Sep took more days and volume than the one before it while we see more ease of downward
movement.

Weekly: Wide spread down bar closing off low net change from previous down bar is narrow = some demand
Daily: Up bar closing off high = weakness
H3: The last wide spread UHV up bar is SOW. Market exited down channel. Will its demand line become resistance or will price
attempt to re-enter the channel?

Strategy for Short (Test and Reject)
Strategy for Long (Test and Support)
Entry will be based off the price reaction to these levels:

Have a sane trading week for Hang Seng : )