Hang Seng Technical chart | 22 Feb 2011

In a continuation of my earlier post on technical chart of Hang Seng Dt. 10 Feb 2011, here is talk on its latest technical chart.

hang seng technical chart

After the price closes below kumo on 10 Feb 2011 @22708, it was expected a beginning of downtrend. But price started to move upward from the very next day. Not only the price but the chikou span line is also inside kumo. So, this is a no-trade market now. Just avoid this till it closes on either side of kumo to confirm the trend.

The resistance areas of price and chikou span (CS) has been mentioned on above chart and is self explanatory.

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