Any possible rebound? (2011-11-28 HSI analysis)

The global economic situation is just so bad, with another European country being downgraded. We can hardly have optimistic view on the markets.

Quite busy with coursework these days, so I am not too familiar with current market situations. I guess I'd rather post my charts for your reference than typing a lot.

Let's take a look at the charts.

Daily chart of HSI:















Not too many hints from daily chart.

Weekly chart of HSI:















On weekly chart, it clearly shows strong support area somewhere not far away from the level now. So I expect it would keep on dropping but would start rebounding this week.

Keep an eye on any possible strong rebounds after reaching 17,300, 16,500, 16,000. These are the critical levels to be aware of.

Good luck.