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HK50: Low level oscillation moves down

2022-09-22
512
Basic analysis:

Hong Kong Hang Seng Index closed down 336.8 points, or 1.79%, at 18444.62 on September 21 (Wednesday); The market was worried about the radical interest rate increase in the United States and the geopolitical turmoil. Hong Kong stocks rebounded yesterday fell sharply again, and the three major indexes all refreshed and adjusted their low prices. The HSI fell 1.79% and fell more than 330 points, and the Hang Seng Science and Technology Index fell 3.03%, both approaching the low price on March 15 this year. Science and technology stocks, as market bellwethers, fell across the board. A new round of domestic price adjustment window for refined oil products will open. The oil price has just risen and fallen, or it will usher in the "seventh drop" in the year.



Hang Seng Index HK50 4 Hour Chart




Technical analysis:


The 4-hour chart shows that the short selling power is in a downward trend of ladder like shocks, and the low short-term decline may continue. The market short selling mood is shrouded. MACD indicators remain weak in the short selling area, and RSI indicators remain weak at the bottom of the 50 equilibrium line;


Empty turning point: 18499


Pressing position: 18690, 18889


Support position: 18216, 18024


Trading strategy: 18499 lower bearish, target 18216, 18024


Alternative strategy: 18499 bullish, target 18690, 18889

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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