HK50: bears down

Hong Kong's Hang Seng Index closed down 438.31 points, or 2.02%, at 21222.16 points on February 6 (Monday). As of the close, the Hang Seng Index fell 2.02% and fell 438 points, and recorded a three-day losing streak. The Hang Seng Technology Index once fell to 4.3%, and finally fell 3.65%. The index continued to retreat. Yu Weiwen, President of the Hong Kong Monetary Authority, said today that the linked exchange rate system is backed by a large amount of U.S. dollars. Currently, Hong Kong’s foreign exchange reserves are 1.7 times larger than the base currency. All base currencies are backed by U.S. dollars, and the market has strong confidence in foreign exchange reserves.

HSI HK50 4-hour chart

Looking at the 4-hour chart: The high-level short-term momentum remains volatile and downward, and the short-term decline has not stopped. The market’s short-term sentiment continues, and the short-term downward trend will continue to move downward. side maintenance

Long-short turning point: 21348

Repression: 21561, 21788

Support: 21011, 20791

Trading strategy: bearish below 21348, target 21011, 20791

Alternative strategy: call above 21348, target 21561, 21788