Hong Kong HSI fell 1.5% and Shanghai fell over 2% today. HSI signalled a BUY back on 13th July with a move and close above the Daily 20ema at 19750. 2028pt move over 24 days from 6th July low 19777 to High on 9th Aug 21805 has limited upside with Resistance at 22500 and Slow Stoc over bought at 91.
BEAR View
HSI stalls around 22000 level, then falls to 16000 by the end of October
BULL View
HSI finds support at 50ema (20720) level before moving up to test 26000 in the Autumn
| Market | Date | Trade | Price | Stop | Target |
|---|---|---|---|---|---|
| ASX | 10Aug | SELL | 4560 | 4600 | 4000 |
| SSEC | 10Aug | SELL | 2640 | 2680 | 2000 |
| HSI | 10Aug | SELL | 21500 | 21800 | 16000 |
| N225 | 10Aug | SELL | 9600 | 9700 | 9000 |
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