I have been monitoring closely HSI as I started to enter HSI equity around 22,500. I entered last Dec with minimal confidence since China equity fell of and poised to revisit 19xx.
We have drawn downtrend lines since the Nov2013 peak, and it clearly shows we are still following that trend
Earlier Dec I have already drawn the target downside of HSI since the uptrend channel of June to Nov has broken down with a target downside of 21300 to 22100.
Today as of 10am SGT, HSI lost 500pts at 21950 and looking closely to our initial target downside.
Must wait for US to calm down but has greatly increased my confidence that HSI has better entry point as of this moment.
Long Term uptrend is also at 21000 and once it revisits that area, its a good entry point for Short to Medium term plays.
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