Hong Kong's Hang Seng Index $HSI has been bearish throughout 2018. After a couple months of consolidation, it looks like the HSI is entering another drive lower.HSI Daily Chart(click to enlarge)Bearish Continuation Breakout:- The HSI took a break from the 2018 downtrend in November and December. - We can call this a flag pattern now with price breaking the support trendline.- The reaction after the breakout was a few days in consolidation, but I think the bearish engulfing red candle suggests bears are still in control.- Look for the HSI to slide towards 24500 and potentially lower.Trading the Long-term Bull Trend:- We are looking at a year-long bearish trend that could extend into 2019.- However, if we look at the monthly chart, we can see that the long-term trend is bullish as price has been trading above the 200-month simple moving average (SMA) since at least 2003. - If we project some support lines and respect the 2017 low, we should anticipate support around 21660 to 22000. - But we should also give some elbow space down to the 200-month SMA around 20000. - The 20000 area is another 25% lower. This might sound like a lot, but if the Asian market stagnates in 2019, the HSI could easily push below that 2017 low towards 20000.My tentative trade plan:- I will consider light positions around 22000 to add more around 20000. - I would also consider stop below 18000 and a target of 30000. HSI Monthly Chart(click to enlarge)