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Tuesday, February 21, 2012
HK Negative Divergence
There is a big MACD negative divergence on the HK daily chart. While ADX is at a hefty 44.24, meaning strong trend and we're supposed to ignore oscillators such as MACD, but it's been decreasing and the DMI- rising and DMI+ falling. It seems it wants the 50 day EMA of 9.30, or even the Fib 50% area of 9.13, before possible resumption of up trend.