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Technical Forecast for Hang Seng - 3rd June 2013

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Technical Forecast for Hang Seng - 3rd June 2013
Hang Seng retested May lows at 22110/064 on Friday. Although we are oversold in the short term the outlook remains weak so there is a risk of a break lower to test support from the 200 day moving average at 21962/938. Watch for a bounce from here but a break lower could then target 21762.
 
Immediate resistance at 22330/380 should see us struggle but above here look for 22580/620 & a high for the day likely here with the daily chart still looking negative.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Markets Trading Ideas

 

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