Hang Seng Index: high volatility downward

Hong Kong Hang Seng Index closed down 601.58 points, or 2.77%, at 21124.2 points on July 11 (Monday); The epidemic rebounded in many places in China, and the risk market sentiment was pessimistic. Hong Kong stocks showed a unilateral decline throughout the day, with the Hang Seng technology index falling 3.86% to close at 4600 points. Many stocks were transferred out of Hong Kong stock connect, and the valuation of individual stocks was reduced by nearly 70% by the fund.

Looking at the 4-hour chart: the high short trend continues to move downward, the downward trend line continues to vibrate, and the short-term downward trend may continue. The MACD index remains weak, moves downward to hover near the 0 axis, and the RSI index is in the narrow consolidation below the 50 equilibrium line;

Long short turning point: 21278

Pressing position: 21572, 21994

Support position: 20891, 20562

Trading strategy: bearish below 21278, target 20891, 20562

Alternative strategy: bullish above 21278, goals 21572, 21994