Monday, 9 November 2015

Hang Seng at forefront of 50%+ decline, beginning next leg lower?

Weekly chart shows the Hang Seng rolling over lower from a test of the underside of the blue trend channel, likely at the forefront of a 50%+ decline from current levels, as per the Elliott Wave count.

Daily chart zooms in to show more detail of the blue channel. Also shows that the Hang Seng has completed a bearish false upside break from the black channel, suggesting that the next leg lower has indeed begun.