19/11/2012

Hang Seng, China still in the downtrend and now back in the long upside channel.

Hang Seng daily chart now. This chart is in my opinion showing well how China goes. The hang Seng has been up for many months in an upside channel which was broken on upside about 3 weeks ago.Use to be the last jump in a long bull market. Top formation and back in the channel with 8 and 21 day MA crossed on downside could very well be the first move before a steeper fall. Still have to wait and see but personally I do not want to be long this index now.

No comments:

Post a Comment