China-HangSeng(12815) Near term trend:Negative
I said
"I am expecting a pause in the uptrend with suspecting" ending" triangle formation where "b" leg is likely to be ended near 14.6/14.7k and "c" leg will open downward with target price of 12300-11650; which can provide excellent opportunity to buy for a medium term rise".
HangSeng moved down exactly as per expectation. However an anticipated "ending" triangle is likely to be turned out as "expanding" triangle which may lead to a serious downfall , may be retesting of previous lows. On the upside, a weekly close above 14.3k will compel us to abandon the 'bearish' view on the index.
