hang seng short term weakness prevails before potential recovery 1847782017
Short-term Technical Outlook (Tues, 28 Mar 2017) (Click to enlarge chart) What happened earlier/yesterday The Hong Kong 50 Index (proxy for Hang Seng Index futures) […]
Short-term Technical Outlook (Tues, 28 Mar 2017) (Click to enlarge chart) What happened earlier/yesterday The Hong Kong 50 Index (proxy for Hang Seng Index futures) […]
The Hong Kong 50 Index (proxy for Hang Seng Index futures) had erased all its gains seen in yesterday’s opening session to print an intraday low of 24127 before it inched upward slowly in the European session.
Pivot (key resistance): 24450
Support: 24100/24000
Next resistance: 25135
As long as the 24450 short-term pivotal resistance is not surpassed, the Index may see a further slide towards the 24100/24000 support before a potential recovery occurs (refer to latest weekly technical outlook over here).
On the other, a clearance above 24450 is likely to kick start another upleg to target 25135 next.
Charts are from City Index Advantage TraderPro
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