hong kong 40 daily outlook for 21 jan pull back before potential short term upside movement resumes
Key elements The 13-period Moving Average is acting as a support at 23770. The gap resistance is at 24300. The RSI has just broken […]
Key elements The 13-period Moving Average is acting as a support at 23770. The gap resistance is at 24300. The RSI has just broken […]
Intermediate support: 23870
Pivot (key support): 23770
Resistance: 24300 & 24430
Next support: 23600
The Hong Kong 40 Index (proxy for the Hang Seng Index) may see a pull-back first towards 23870 with a maximum limit set at the 23770 daily pivotal support before resuming its potential upside movement towards 24300.
On the other hand, a break above 23770 may negate the bullish tone to see a decline to retest the 19 January 2015 swing low at 23600.
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