Prices reversed sharply erasing Thursday’s -2.4% loss, again rallying into daily resistance at 11,200. A daily close above 11,308 targets 11,528. Bulls want 10,712 to hold in order to reach higher weekly target of 12,700 and a full 50% retrace of the decline from all time highs on the HSCEI.
Daily Trading Signals
There were no trading signals generated for 20 Jul, the HSCEI will have to rely on Pivot & Support levels to guide intra-day trading biases.
Today’s daily pivot is 11,094, and the weekly pivot is 10,856. Price action above the daily pivot is bullish. Specific price levels and projections are discussed on the charts below.
Short term 60 Min
Another 5 day rally, 9% rally into resistance at 11,200.
Daily
HSCEI has successfully retested critical daily symmetry support @ 10,243 and rejected again at 11,300. A daily close > 11,078 targets 11,616 and higher. daily Oscillator bullish.
Weekly
The weekly oscillator crossed bullish on Friday.
Long Term support 8,051.
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