Hang Seng Index: Open High and Go High
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
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