HK50 Ranging

So far, HK50 has formed a range in between 16843 and 16127. Overall there is still no clear direction as to whether if we will break out those range as yesterday we close right in the middle of the range.

For trading idea, I still stand with my initial analysis. Sell only if the 1 hour candle close below the strong support level of 16127. For buy, proceed when candle close above 16843. There is plenty of range to trade from once the market starts to close above or below these level. There is no point to force an entry as you might end up stuck in this 800 points range for few days.