Charts Interpretation - Hong Kong
- Jay
- Sep 1, 2018
- 1 min read
We'll start off with the overall weekly ranking:
Now let's dive into some sectors of interest:
The Properties & Construction sector is acting well in relative terms, even-though it is currently range bound in absolute price with the 38.2% Fibonacci retracement level of the 2016 low to 2018 high acting as support. The Services, Industrial Goods and Consumer Goods sectors are stabilizing their downtrend at the 50% Fibonacci retracement level of their respective 2016-2018 advance, which currently provides a floor for their respective price. Whereas for the Materials sector, it is the 61.8% Fibonacci retracement level of the 2016-2018 advance that is providing support.
Interesting week ahead!
Jay
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