Hang Seng Anticipated happened

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 Hang Seng daily chart anticipated on 13th Feb 2023


Hang Seng daily chart happened on 27th Feb 2023


Analysis

In my previous update I had mentioned that, "Hang Seng is unlikely to go below 19600 and can consolidate in the range of 22760-19600 levels over the time."

The index did not go below 19600 and made a low of 19745 levels and reversed from that level as expected - Anticipated Happened.

To view my previous article on Hang Send, click on the below link

As seen in the above chart, prices had taken the support of the falling trend line which was acting as a resistance prior (role reversal). From there it has started picking up positive momentum and it is now likely to move towards its next resistance zone.

Wave thoery suggests, the index has completed wave ii and it is now opening wave iii on the higher side which can travel minimum towards 100% of the wave i to wave ii place at 27690 levels.

The summation is Hang Seng can move higher towards 27690 levels over short to medium term with support at 19000 levels.



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