Kevi,
As you point out it has not yet breached its support at 12500 - which IMO is also the bottom of the channel its currently in.
Significantly though, it fell well past and also closed below the 50 fib retrace of its recent rally from 10676 to 15318, which was 13000(12997). This suggests a retest of the low is likely.
Unlike our market, HK actually capitulated down a full channel in late October. For that reason IMO it would be unlikely that it would not be able to hold within its current (old) channel.
However, it now appears to me that HK is likely to retest the low and in doing so, would form (IMO) an unusual double bottom.
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Kevi,As you point out it has not yet breached its support at...
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