Hang Seng decline since 11 Jan so far looks like 3 waves down, and consolidating in Wave 4 of latest decline. Since Wave 2 was a zig zag, we can expect a sideways correction for this wave 4, in line with Elliot Wave principle of alternation. Expect a choppy wave 5 decline later next week down to 19000-19200 levels(the target of the head & shoulders identified in this earlier post.
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