HSCE recently fell below the downward correction target 10000.00 what was set in our previous report for this index. The breakout of this round support level accelerated the (C)-wave of the latest intermediate corrective wave (2) from April.
The index is currently trading close to the support level 9750.00. The support zone near this support level is strengthened by 61.8% Fibonacci Correction of the preceding sharp intermediate impulse wave (1). If HSCE breaks below 9750.00 – it can be expected to fall further to the next sell target at 9500.00. Alternately, HSCE might retest the broken support at 10000.00.
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