In today’s briefing:
- HSBC, Sun Hung Kai Properties, and CK Hutchison Holdings
- WTI 105 Rejection Sets up a Key Low at 89/85
HSBC, Sun Hung Kai Properties, and CK Hutchison Holdings
- This week some of the strongest names in HSI are covered.
- In real estate, banking, and global infrastructure sectors. They have been consolidating for months and should resolve soon to establish new trends or act as a continuation pattens.
- These are likely to prove crucial to Hong Kong and Greater China.
WTI 105 Rejection Sets up a Key Low at 89/85
- WTI 105 short zone working again for a low near the 89/85 zone to set up a better buy level. Oil still struggling with supply/demand constraints.
- 105 has been our firm sell zone. Gap lower will cut the legs out from under the XLE bounce.
- We expect USD strength to resume and will put additional pressure on oil. Choppy overlapping decline warns of an upcoming WTI low as the descending pattern matures.
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