Educational insights only not an investment advice and exercise due diligence.
Nov. 20, 2019
After hitting the resistance last Nov. 6, eventually declined on the following day bulls are overpowered by bears .We estimated that rebound will be at 61.8% approximately at 1458 price range and indeed rebounded As of this time, bulls trying once gain to break the barrier at 1493. If bulls will be successful breaking the resistance. we might see a comeback at 1500 level.
For overall market sentiments still focus in China -US trade war and investors are still worried if the two giants eventually come up a trade pact.Seems they are still in stalemate and another issue would be the approval of resolution from US senate with regards to expression of freedom in HongKong, it will surely anger China and may consider this a direct intervention by US in China political and economic affairs. Nevertheless we only hope that they will see a neutral ground and end the chaos in HongKong peacefully.