An up-date on Hang Seng, post Christmas

In my last post on China, I used Hang Seng as a reference of its health. I estimated that Hang Seng should be on its way down. 

Fig 1. Hang Seng weekly chart

Hang Seng has just broken previous low and established a lower one, it fell into the range that the first level support is located. 

On the week of Christmas, it was stopped by the short term 61.8% projection support. However, there is not yet indication of reversal, firstly the bar is too small, there are also insufficient bars to show a clearer picture. It will probably take the coming week to have a clearer prediction.