HK50: High opening and rising of bulls

Basic analysis:

Hong Kong Hang Seng Index closed up 1244.62 points, or 7.74%, at 17325.66 on November 11 (Friday); The US inflation data was weaker than expected. It is expected that the Federal Reserve will slow down the pace of interest rate increase and the National Health Commission will release the latest anti epidemic measures announcement in the afternoon. Hong Kong shares rose sharply all day. The Hang Seng Science and Technology Index rose by 10.05%, more than 300 points, the Hang Seng Index rose by 7.74%, more than 1200 points, and the National Index rose by 8.31%, all of which hit new rebound highs. The National Health Commission issued the Notice on Further Optimizing the Prevention and Control Measures for the COVID-19, Scientific and Accurate Prevention and Control Work. It is clearly proposed that the risk areas should be adjusted from "high, medium and low" to "high and low" to minimize the number of control personnel.

Hang Seng Index HK50 4 Hour Chart

Technical analysis:

The 4-hour chart shows that the bulls' momentum is high, short-term bulls' sentiment is strong, and the market bulls are rising. The MACD index continues to move up on the top of the 0 axis, and the RSI index continues to move up on the top of the 50 equilibrium line;

Empty turning point: 17224

Pressing: 17605, 17896

Support: 16948, 16665

Trading strategy: 17224 upside bullish, target 17605, 17896

Alternative strategy: 17224 lower bearish, target 16948, 16665