Free technical analysis on Hong Kong stock market, world stock markets, foreign exchange market, commodities market, as well as some important notes for being a successful trader.
Friday, October 16, 2009
Put now? (16-10-2009 HSI analysis)
Led by the report from JP Morgan Chase & Co., HSI today had a great rise till as much as 22,250.35 at the opening. Unfortunately it could not keep the momentum and dropped till 21,971.48. After doing a analysis on HSI using fibonacci projection in last five years, I have found the 50%-point at 22,393.88. I believe tomorrow (16-10-2009) would have a rise in the opening led by the better-than-estimated earnings by Goldman and better-than-estimated losses by Citigroup.
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