HK50: Shorts continue to fall

Basic analysis:

Hong Kong Hang Seng Index closed down 78.13 points, or 0.44%, at 17855.14 on September 26 (Monday); Most of the Hong Kong stock indexes that fell in a row stopped falling and rebounded. The Hang Seng Index rose 0.38% in the morning, and the National Index rose 1.61%. At one time, the Hang Seng Technology Index rose more than 3% in the morning. The three major indexes renewed their low prices in the morning. The rebound of large technology stocks helped the market recover, and local banking stocks such as HSBC and Standard Chartered fell.

Hang Seng Index HK50 4 Hour Chart

Technical analysis:

The 4-hour chart shows that the momentum of short positions has remained volatile and downward, and the low short-term decline has not stopped. Short term short positions are shrouded in the mood. The MACD index hovers at the low position in the short positions area, and the RSI index is in the weak position in the short positions area;

Empty turning point: 18033

Pressing position: 18239, 18467

Support position: 17722, 17530

Trading strategy: 18033 lower bearish, target 17722, 17530

Alternative strategy: bullish above 18033, target 18239, 18467