Friday, November 1, 2019

Hang Seng Index - Hesitating at the downtrend resistance line

Hang Seng Index  - Continues to hesitate below the resistance provided by the blue downtrend line. This price action is consistent in the last 6 months with the lower highs established . Its is testing the 100 days Moving Average (MA) and supported by the 50 days MA currently at 26315. The risk remains on the downside  until the index breaks convincely above the downtrend line.
However, if it breaks above 27150 it could close the gap to reach 17512 which is also near the 200 days MA
All posts and charts are for educational and illustration purposes only

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