I didn't miss much (2010-09-12 HSI analysis)

Well, it seems like I didn't miss too much. The index is still moving within the triangle on daily and weekly chart, but 60-min chart shows two bearish rejection candles. This might not look good as people propably are taking profits.

60min HSI:

There were two bearish rejections at 61.8% fibs level. 20SMA crossed 10SMA from above and MACD and EMA are just moving together. Does it mean that people are taking profits, leading to possible drop afterwards?

Daily HSI:

Daily chart tells different story. The last candle is a bullish rejection after touching the uptrend line, it shows that there is a strong force preventing the index from breaking downwards. MACD is turning upwards after touching EMA. HSI is going to surge and test the resistance next week.

Weekly HSI:

The candle this week didn't not break the triangle. Boring time is coming to the end and large break would follow. Around 1-2 candles to go!