HK50: low shock

Hong Kong's Hang Seng Index closed up 44.67 points, or 0.24%, at 18,595.78 points on May 30 (Tuesday). The index rose 0.24% and 0.52% respectively, and all three stopped their 4-game losing streak. Large-scale technology stocks rose in the afternoon. Sun Dong, director of the Innovation Technology and Industry Bureau of the Hong Kong Special Administrative Region Government, said in an interview recently that the treatment of talents in the talent pool is being greatly improved, and the salary of doctoral graduates has risen to 45,000 yuan (Hong Kong dollars) per month. The net inflow of southbound funds was 2.791 billion Hong Kong dollars throughout the day, and the market turnover was 94.5 billion Hong Kong dollars.

HSI HK50 4-hour chart

Looking at the 4-hour chart: the short-term momentum continues to fluctuate and move down, the short-term decline continues, the market as a whole is in a bearish trend, the MACD indicator is in the bearish zone and continues to decline, and the RSI indicator is in the bearish zone and fluctuates at a low level;

Resistance level: 18688 18795

Support level: 18398 18296

Trading strategy: bearish below 18560, target 18398 18296

Alternative strategy: call above 18560, target 18688 18795