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Hang Seng Index: continuous fluctuation and decline

2022-07-20
1236
Basic analysis:

Hong Kong Hang Seng Index closed down 185.12 points, or 0.89%, at 20661.06 on July 19 (Tuesday); Hong Kong stocks failed to continue yesterday's rebound. The three major indexes fell throughout the day, and the Hang Seng technology index fell 1.48%. Today, the net inflow of southbound funds bucked the trend of HK $2.22 billion, and the turnover of the market shrank to HK $83.9 billion.


Hang Seng Index hk50 4-hour chart



Technical analysis:


According to the 4-hour chart, the short-term momentum continues to fluctuate downward, the low-level short-term reversal moves upward and then falls again, the short-term decline may maintain the low-level fluctuation, the MACD index is in the short-term area to maintain the consolidation and translation, and the RSI index is hovering below the 50 equilibrium line;


Long short turning point: 20746


Pressing position: 20929, 21157


Support position: 20453, 20278


Trading strategy: 20746 bearish below, goals 20453, 20278


Alternative strategy: 20746 is bullish above, with goals 20929 and 21157

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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