HSI50 Wave Analysis 6 October, 2020

• HSI50 reversed from support area

• Likely to rise to 24500.00

HSI50 recently reversed up from the confluence support area lying at the intersection of the support trendlines of the daily down channels from August and July as well as the lower daily Bollinger Band.

The upward reversal from this support area started the active longer-term upward impulse sequence ③.

HSI50 price is likely to rise further toward the next resistance level 24500,00 (former support from August and July).