Hang Seng Index Prognosis

We believe that they Hang Seng Index has already reached its apex and we are anticipating a downward spiral over the short-term period. It has suffered a decline of more than 300 over points or percentage wise 1.86% in yesterday's trading, and is one of the major Asian bourses to take a bad hit after the Bank of China annouces that it will be raising key interest rates.
I hope the charts above will be comprehensible enough to put across the message to my fellow traders. This time round, i placed significant emphasis on MACD. Notice that whenever MACD reaches a "supposed peak of its own" that i have designated, the above index tends to gain more momentum downhill. Besides the MACD, we take into regards of the current RSI level as well as divergences occurrences. Furthermore, for the past week, it came to my notice that the market currently is overbullish as sentiment find inclination to the bulls. We expect the index to reach somewhere near the major support trend line. Anyway, let's see how the Nikkei 225 is gonna react later in morning trading before we decide to go into this trade.

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