Here is all patterns i can see with current HSI structure.
At 31600, there is a bearish gartley (78%).
At this exact same level, there is a 5-0 pattern (161% extension) which would lead to a ~50% drop in a form of AB=CD .
I tend to think, when fibs are nicely aligned (confluence) the probability is high to touch the level.
HSI could rally up to 31600, falls down 27400 and bounces back to 31600 again and higher...
At 31600, there is a bearish gartley (78%).
At this exact same level, there is a 5-0 pattern (161% extension) which would lead to a ~50% drop in a form of AB=CD .
I tend to think, when fibs are nicely aligned (confluence) the probability is high to touch the level.
HSI could rally up to 31600, falls down 27400 and bounces back to 31600 again and higher...