Today HSI opened high after a large plunge last Friday. We can see that the index is supported at the fibonacci line and the bottom line of the triangle. It goes right back into the triangle today and we could expect a further increase to around 22,000 in the following days. However, the direction after this short rebound is yet to be confirmed.
Looking at the size of triangle, we may expect confirmation would appear in mid of May, which might be triggered by election in UK (HSBC would be leadingt the whole market). In beginning of May we could long straddle to speculate large change at one side.
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