Tuesday, 20 October 2015

Hang Seng testing triple trend line support, 60%+ decline on the cards for coming 12 months

Daily chart shows the Hang Seng all sessions testing three trend lines. Below today's low I'd be calling an important top in place.

Next daily chart zooms out to better illustrate overhead trend line resistance, which may not come directly in to play, but it's worth knowing about.

Weekly chart illustrates my long standing Elliott Wave count and scenario for the next 12 months. A 60%+ decline to below the 2008 low.