Hang Seng Index
Despite all the bearishness surrounding China/HK stocks, we see that prices are still supported at key levels and resuming their intended cycles.
2008 bottom
- 2008 fear induced selldown below Fib 1.618
- Rebounds near Fib 1.00 to continue its intended cycle back down towards Fib 1.618
- Reverses into uptrend from there.
2022 bottom
- 2022 fear induced selldown below Fib 1.618
- Rebounds near Fib 1.00 to continue its intended cycle back down towards Fib 1.618
- Reversal into uptrend probable if past patterns repeat?
SSE Composite Index
Also supported at key levels though directionally unclear at the moment.
As always, gentle reminder to dyodd.
