HSI's Wedge

While STI has just started its reversal, HSI seems way ahead. Already days before people were questioning how come HSI made no further progress. But like I said the last round, it was trapped inside its wedge.


Fig 1 HSI Daily Chart

True enough, HSI has come down today. The interesting part is that while on its descend, it was still supported by its envelop. It did momentarily crossed the border but retreated. However, I doubt that this envelop will hold.

Both indicators are reversing as I type. So My bet is HSI to move ahead down. The wedge objective is 20,107.