Hk50: low wide range shock

Basic analysis:

Hong Kong's Hang Seng Index closed up 5.36 points, or 0.03%, at 19954.39 on Wednesday, August 31; The three major indexes of Hong Kong stock continued to rise in the afternoon, and gradually fell in the late afternoon. The Hang Seng Index closed up slightly by 0.03%, and 20000 points were lost. The Hang Seng technology index rose 1.09%, and once rose 3% during the session. The net inflow of funds going south was HK $1.928 billion, and the transaction volume of the market was enlarged to HK $136.5 billion. Auto stocks fell sharply, Buffett reduced his holdings for the first time in 14 years, BYD led the decline, military industry stocks and coal stocks fell, international oil prices fell, and three barrels of oil fell.

Hang Seng Index hk50 4-hour chart

Technical analysis:

According to the 4-hour chart, the low level continues to move in a wide range, and the short-term or range consolidation is maintained. The market's long and short dynamics are all in a state of anxiety. The MACD index remains weak in the short area, and the RSI index is in a narrow range consolidation near the 50 equilibrium line;

Long and short turning point: 19957

Pressing position: 20186, 20431

Support position: 19617, 19445

Trading strategy: bearish below 19957, target 19617, 19445

Alternative strategy: bullish above 19957, target 20186, 20431