Technical analysis

HSI50 Wave Analysis 18 May, 2021

• HSI50 rising inside corrective wave (iv)

• Likely to rise to resistance level 29500.00

HSI50 index continues to rise inside the minor corrective wave (iv) –which started earlier from the key multi-month support level 27560.00 (low of wave A from March).

The active corrective wave (iv) belongs to the intermediate downward impulse wave C from the end of April.

HSI50 is likely to rise further toward the next resistance level 29500.00 (top of the previous wave B from April and the top of wave (iv) from March).

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