Hang Seng (Hong Kong)- To start the 3rd wave Anticipated Happened

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In our previous update as on 13th May 2014 we were expecting Hang Seng to move above 24000 which it did after crossing 24000 on 25th July 2014.

 The below paragraph was written on 13th May 2014

"Hang Seng was losing its gains after a significant up move from 21137 to 23224. The fall from 23224 to 21680 was a double correction pattern (a-b-c-x-a-b-c), prior to this fall the up move from 21137 to 23224 was a impulsive up move which we have counted wave i (marked on daily chart). Wave ii will be corrective in nature and it seems that wave ii got completed at 21680 levels as it has arrived till 76.2% retracement of the previous up move (21137-23224). Now Hang Seng will start picking up momentum and can move up till 24000 levels which is more than 100% of the previous wave i. This up move will start wave 3 which is strongest, longest and broadest.

In short, our bias for Hang Seng is firmly positive as it can move up till 24000 levels in coming weeks."

 Anticipated on 13th May 2014

Happened on 25th July 2014


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