Interesting development on HSI

Fig 1 HSI Daily Chart

I find the recent development of HSI interesting. It first broke through the wedge formation, went down then defied the principle and causes a wedge failure. In fact it broke through the maximum height of the wedge with a gap.

I have much earlier identified a probable head and shoulders and drawn a red line marking its neck. Coincidentally, HSI's gap caused it to stay above this line. Through these 2 days event, the neck line seems to be quite a prudent support for HSI.

My only concern is this: HSI is in a tight trading band the last 2 days. This is unlike the gaps in the middle of the climb which makes a gap like a penant or a flag. This seems to me a possible island reversal. The neckline support might not hold for long if HSI refuse to move further up.