hang seng index daily outlook wed 14 oct back at the 2226022180 pull back support of the double bott
(Click to enlarge chart) What happened yesterday The Hong Kong 40 Index (proxy for the Hang Seng Index) has continued to trade sideways in the […]
(Click to enlarge chart) What happened yesterday The Hong Kong 40 Index (proxy for the Hang Seng Index) has continued to trade sideways in the […]
The Hong Kong 40 Index (proxy for the Hang Seng Index) has continued to trade sideways in the overnight session and broke below the short-term support at 22475 in the opening session today, 14 October 2015.
Please click on this link for a recap on our previous daily outlook.
Pivot (key support): 22260/22180
Resistance: 22700 & 23170
Next support: 21370
The Index is now back just above its weekly pivotal support at 22260/22180 but it needs to have a break above 22700 in order to gain impetus for a potential rally to target 23170 in the first step.
On the other hand, a further decline below the 22260/22180 key pivotal support is likely to invalidate the medium-term bullish expectation to trigger a deeper down move towards the next support at 21370.
Disclaimer
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this email, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs. All queries regarding the contents of this material are to be directed to City Index, a trading name of GAIN Capital Singapore Pte Ltd.
Trading CFDs and FX on margin carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit cityindex.com.sg for the complete Risk Disclosure Statement.