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Thursday, 31 October 2019

The Hong Kong Hang Seng Index: 31 October 2019, Thursday

The Hong Kong Hang Seng Index: 
31 October 2019, Thursday
(Click on Technical Chart above to Expand)

Attached is the Updated Technicals for the Hong Kong Hang Seng Index. Observe the technicals in detail, in particular paying attention to the red trend band, black trend band and the green trend band. The Hong Kong market has now turned into a short-selling market as illustrated on technical chart attached. The red trend band and the purple trend band are powerful resistances which will hold. This means Hong Kong and Hang Seng Index will go down as shown in the projected trajectory. Hong Kong is the weakest market in the world right now. Its worst is far from over. If green trend band breaks down, the black trend band support within the black channel is a capitulation zone of maximum fear for Hong Kong.

The Donovan Norfolk Technical Rating for Hong Kong:
Significantly Bearish

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