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Wednesday, 27 May 2020

Updated Technicals of Hong Kong Hang Seng Index (HSI): 27 May 2020

Updated Technicals of Hong Kong Hang Seng Index (HSI):
27 May 2020
(Click on the Technical Chart Above to Expand)

Attached is the updated Technicals of Hang Seng Index. I first flipped back to shorts on Hong Kong Hang Seng Index (HSI) at around 27400 pts zone (refer to February 2020 analysis). HSI is now 23,370 pts. The Rounding Top distribution is a big one. This big rounding top gives a target of 74.2% of 24,500 points = 18,189 points target for Hang Seng Index as first target. Often, the sheer momentum will be fearful and this momentum may cause the green support line to break despite it coincidentally at the rounding top target. 

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