Hang Seng about to come down



 Is there such a thing as a multi-year triangle? IT seems to be for Hang Seng Index.

Hang Seng first came down with an A wave between 2007-2008. It then retraced with what seem to be a B wave. But as it confined itself in a triangle formation, I would have to put this a an 'a' of B wave and as it is a triangle, it should likely be a 'a,b,c,d,e' wave pattern. The interesting part of it is, 'e' wave is completed.

So is C coming? Presently Hang Seng is stopped by its upper envelop and this week (with 2 days passed), it is negative. It is possible of a reversal week this week and we should be seeing a down trend continuation after many years. With measurement of a triangle, the objective is around 9,500.