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Hang Seng Index: Open High and Go High

Fundamental analysis:

On Tuesday (August 29), with the implementation of major positive measures such as the halving of stamp duty, market sentiment improved significantly. The three major Hong Kong stock indexes opened higher and moved higher. The Hang Seng Index rose 1.95%, rebounding for 2 consecutive days. Looking ahead, China's economic policies and stock market policies will continue to accumulate benefits, which will gradually ease investors' excessive pessimism about China's stock market and consolidate the bottom area of Hong Kong stocks.

HK50 four-hour chart

Brief technical analysis:

Looking at the 4-hour chart, the Hang Seng Index once again opened higher and strengthened. The MACD volume can be reduced below the zero axis.

Resistance level: 18730 19030
Support level: 18250 18000

Trading strategy: Bullish above 18250, target 18730 19030
Alternative strategy: bearish below 18250, target 18000 17700

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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