HK50: Short position moves down again

Basic analysis:

Hong Kong Hang Seng Index closed down 272.1 points, or 1.51%, at 17740.05 on October 7 (Friday); The three major indexes of Hong Kong stocks fell together, while the National Index and Hang Seng Technology Index fell 1.79% and 3.3% respectively; In the four trading days this week, the Hang Seng Technology Index rose 2.6%, while the Hang Seng Index rose 3%. The next day after the launch of Emmy vaccine, it once rose by more than 50% in intraday trading and closed up by 38% in half day trading.

Hang Seng Index HK50 4 Hour Chart

Technical analysis:

The 4-hour chart shows that the momentum of short positions fluctuates downward again, and the short-term decline may continue again. Short positions emerge in the market. The MACD indicator stays in the short positions area and maintains consolidation and upward movement, while the RSI indicator stays in a weak position near the 50 equilibrium line;

Empty turning point: 17825

Pressing: 18088, 18312

Support: 17492, 17263

Trading strategy: 17825 bearish, target 17492, 17263

Alternative strategy: 17825 upper bullish, target 18088, 18312