More on the post earlier Today.
HSI now has rallied beyond the point which i have marked for few weeks as the potential turning point. We may see brief distribution between 25950-26250 for couple of sessions and then move lower. I am to remain short until it breaks above 26800.
I am of a view that the rally so far this month after the passing of controversial security law is to trap the investors who were on the sidelines waiting to see how the market perceives the new law.
There is 10 weeks of distribution near 24k. If it reverses, 20k may come in no time.
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