Biden considered reducing tariffs on China, and the decline of Hang Seng Index narrowed

Fundamental analysis:

Hong Kong's Hang Seng Index closed down 247.18 points, or 1.19%, at 20470.06 on Monday, May 23; Biden considered reducing tariffs on China. The decline of Hong Kong stocks narrowed in the afternoon. The decline of Hang Seng Index narrowed to less than 1%, but finally closed down 1.19%. Technology stocks were weak, and Hang Seng technology index fell 2.49%. The Hang Seng Index company released the quarterly inspection results. China Hongqiao, OOCL and SMIC, which were included in the Hang Seng Index, rose against the trend, while Ruisheng technology was excluded and fell by nearly 7%.

Hang Seng Index hk50 - 4-hour K-line chart shows:

Technical comments: the low-level Bull Power maintains a narrow range of consolidation and moves upward to the middle and upper rail section of the brin belt index channel for consolidation, hovers in this level range in a short term or maintained, the brin belt index shows a closing trend and continues in the middle, the MACD index low-level Bull Power maintains a shock and moves upward to hover near the 0 axis, and the RSI index is in the weak consolidation near the 50 equilibrium line;

Long short turning point: 20479

Pressing position: 20957, 21328

Support position: 20001, 19642

Trading strategy: 20479 down bearish, target 20001, 19642

Alternative strategy: bullish above 20479, target 20957, 21328

The above analysis is a personal point of view and is for reference only.