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| Hang Seng Index 2015-04-28 |
Hang Seng Index closed at 28442.75 today and this formed at doji candle stick, which may be signalling the end of the uptrend. According to theory of candlestick,
"After an advance or long white candlestick, a doji signals that buying pressure may be diminishing and the uptrend could be nearing an end. Whereas a security can decline simply from a lack of buyers, continued buying pressure is required to sustain an uptrend. Therefore, a doji may be more significant after an uptrend or long white candlestick. Even after the doji forms, further downside is required for bearish confirmation. This may come as a gap down, long black candlestick, or decline below the long white candlestick's open. After a long white candlestick and doji, traders should be on the alert for a potential evening doji star."
The weakening of uptrend is also shown by the MACD, ADX and RSI indicator. HSI is likely to go low and fill the previous gap between 28060 and 28254.
(click on the image to view the larger version of the chart)
