HKG33 approaching support of a Channel Down

HKG33 is trapped in a Channel Down formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a resistance line that has been tested in the past. Divergence opportunists may be very optimistic about a possible breakout and this may be the start of a new trend. It may also be that this convergence factor may result in the ideal setup for swing traders that are on the lookout for a possible bounce-back. Whatever happens, an initial move towards 16646.1600 is expected in the short term.

Past performance is not an indicator of future results.
Trading leveraged products carries significant risk. Please refer to PDS and TMD on our website. AFSL#309763

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