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Technical Forecast for Hang Seng

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Technical Forecast for Hang Seng

 

Hang Seng held above strong support at 22768/645. As stated yesterday, we could exit shorts here & try longs with stops below 22600. However a break lower significantly weakens the outlook for the next support at 22417/329 & possibly 22037 this week or next.
 
Resistance at 22913/961 but above 23030 we meet resistance at 23218/241 which remains a tough challenge & is unlikely to be beaten with the daily chart more negative now. However if we manage a break higher today look for a test of the next resistance at 23410. Exit longs & try shorts but we need stops above 23480.

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Posted-In: Technicals Markets Trading Ideas

 

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