hang seng index daily outlook wed 07 oct 22260 is the key resistance to watch for a potential drop 1
(Click to enlarge chart) What happened yesterday The Hong Kong 40 Index (proxy for the Hang Seng Index) has managed to push higher during the […]
(Click to enlarge chart) What happened yesterday The Hong Kong 40 Index (proxy for the Hang Seng Index) has managed to push higher during the […]
The Hong Kong 40 Index (proxy for the Hang Seng Index) has managed to push higher during the European/U.S. sessions but remained below the 22260 range top (weekly pivotal resistance).
Pivot (key resistance): 22260
Support: 21710 & 21325
Next resistance: 23500
As long as the 22260 key pivotal resistance is not surpassed, the Index is likely to see a potential drop towards 21710 before 21325.
However, a clearance above the 22260 pivotal resistance may invalidate the medium-term (1 to 3 weeks) bearish “push down” scenario to kick start a “Double Bottom” bullish breakout for a rally to target the next resistance at 23500 in the first step.
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