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Hang Seng Index: bearish below 20338
2022-07-18
1216
Basic analysis:
Hong Kong Hang Seng Index closed down 453.49 points, or 2.19%, at 20297.72 on July 15 (Friday); The market is worried that the Federal Reserve will raise interest rates by 100 basis points, and the economy may enter a recession. The three major indexes of Hong Kong stock market opened low and went low, and the decline increased in the afternoon. Hang Seng technology index fell 3.22% to 4500 points, falling below three integer levels this week.
Hang Seng Index hk50 4-hour chart
Technical analysis:
According to the 4-hour chart, the short-term momentum fluctuated and fell strongly, and there was no sign of stopping in the short-term decline. The early low was close at hand, and the break was imminent. The MACD index was in the short area to maintain the consolidation and decline, and the RSI index was in the weak wandering of the short area;
Long short turning point: 20338
Pressing position: 20540, 20800
Support position: 20011, 19814
Trading strategy: 20392 down, targets 20011, 19814
Alternative strategies: bullish above 20392, targets 20540, 20800
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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