Hang Seng Index Analysis. As on 14 Oct 2020. CMP 24,627
The pictures are complex. The larger counts show either a triangle or ending diagonal playing out.
Primary : Price is in the early stages of wave 5 of a massive ending diagonal that began in year 2003. Under this count, the hang seng index is headed up in the next 2 -4 years to the 35,000 ~ 37,000 level.
Alternate 1 : Price has likely completed wave 2 of an ending diagonal that began in year 2016, and is headed up in wave 3 to above 33,500.
Alternate 2 (bearish) : This is a really interesting count that shows a primary 5 wave impulse completed way back in Nov 2007. Price action since then has been one big flat correction. Price is currently in the very early stages of a wave C to the downside that could be unfolding as an downward ending diagonal .
Implication of this count : The flat correction would complete at much lower levels, but would take many more years. A flat correction would test the wave A low of 10,676 possibly somewhere in year 2030.