Hang Seng Index: low shock narrowed

Basic analysis:

Hong Kong Hang Seng Index closed down 235.84 points, or 1.13%, at 20670.04 on July 27 (Wednesday); U.S. stocks fell yesterday, and the market focus turned to the decision of the Federal Reserve. Hong Kong stocks were weak throughout the day, with the Hang Seng technology index down 1.3%. Heavyweight technology stocks fell one after another, with Alibaba down more than 3%, Baidu and Tencent down 2.7%, and Xiaomi, jd.com and Netease all fell; Financial Secretary of Hong Kong: Hong Kong's prime rate may rise in the coming months.

Hang Seng Index hk50 4-hour chart

Technical analysis:

According to the 4-hour chart, the low level maintains a wide range of shocks and narrows, showing a narrow triangle trend. The short-term short momentum shows signs of continuing to maintain a weak downward movement. The MACD index hovers below the 0 axis, and the RSI index is in a narrow consolidation below the 50 equilibrium line;

Long short turning point: 20675

Pressing position: 20822, 21025

Support position: 20479, 20355

Trading strategy: bearish below 20675, goals 20479, 20355

Alternative strategy: bullish above 20675, target 20822, 21025