HK50: Low level narrow amplitude oscillation

Basic analysis:

Hong Kong Hang Seng Index closed up 198.58 points, or 1.21%, at 16587.69 on October 14 (Friday); Under the influence of last night's US stock counter attack, Hong Kong stocks ended six consecutive declines. The three indexes showed strong performance throughout the day. The Hang Seng Science and Technology Index rose 5% at one time, but still rose 1.55% when it fell back in the afternoon. The Hang Seng Index rose 1.21%, and 17000 points were gained and lost again. The national index rose 1.23% to 5600 points. Today, the net inflow of funds from Nanxia was HK $5.909 billion against the trend, and the turnover in the market was HK $101.9 billion.

Hang Seng Index HK50 4 Hour Chart

Technical analysis:

The 4-hour chart shows that after the short-term short position shock moves down, the low position fluctuates in a narrow range, the market short position sentiment remains unchanged, the MACD indicator is in the low position of the short position area, and the RSI indicator is in the weak position below the 50 equilibrium line;

Empty turning point: 16603

Pressing: 16846, 17138

Support: 16257, 16016

Trading strategy: 16603 lower bearish, target 16257, 16016

Alternative strategy: 16603 upside bullish, target 16846, 17138