![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiwlxj4-l21ON8fN8mfvo2_X1McHdlQR0P30zypyTUhb_5IYeronO6ThTRL7b6w-VIJi29BL3oJvhvmC6vnryYIAzfshAhzPjx_ORObkIITQTS5OuxCuTeOo0ZczbblSoi8BhHNGsZAbQc/s320/HSBCH&S.gif)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_78IEOuKQtXHXeKAygzezTh2itKe2ieG4z-Vpzc46AmUdgKc6UFXVrhCsHnquI3xkBQ6uSJM-r14cqjftmxITHtOT69v6d1s0l_083D3NoHzbD7U_y70M3V5Y_TssLurikN8DAmZYwIo/s320/HSBC3t.gif)
The counter-trend rally failed at the 38% retracement level and the decline has resumed.We have taken out the last 2 swing lows now,giving a swing chart sell signal and have a first lower high,Gann's "safest place to sell").In conjunction with the triple top this is a pretty negative chart suggesting a fast decline,perhaps into a March low.
The weekly chart shows a probable head and shoulders pattern with a bearish weekly engulfing candlestick at the neckline.
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