HSI approaching resistance, potential drop!
HSI is approaching our first resistance at 27336 (100% fibonacci extension, 78.6% fibonacci retracement, horizontal swing high resistance) and a strong drop might occur pushing price down to our major support at 25050 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, Horizontal swing low support). Stochastic (89,5,3) is also approaching resistance and we might see a corresponding […]
Chinese stocks drop on rate hike speculations
Chinese “blue chip” index fell the most in three months on Monday, copying a sharp drop in global markets, as investors are rattled by rumours of a possible increase in US interest rates next week, which boosted yields of government debts and put pressure on the Chinese currency.