Peripheral markets drag down Hong Kong stock Hang Seng Index

Fundamental analysis:

Hong Kong Hang Seng Index closed down 738.6 points, or 3.39%, at 21067.58 points on Monday, June 13; US inflation exploded, the market worried that the pressure of interest rate hike was increasing, and the global financial market was under pressure. Hong Kong stocks fell sharply across the board. The Hang Seng technology index fell 4.72% to 4600 points. Technology stocks that rebounded continuously in the early stage led the decline, and Alibaba fell about 8%.

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

Technical comments: the middle and upper rail section of the Bollinger belt index channel continued to fluctuate and rise. The high level reached the nodes near 22032 and retreated when it was blocked. The high level fell rapidly to the middle and lower rail section and vibrated. The short-term high level retreat trend may continue. The Bollinger belt index is in the closing trend. The MACD index is in the long area and Weichai is slowly moving down, and the RSI index is in the long area and keeps fluctuating down to the lower side of the 50 equilibrium line;

Multi empty turning point: 21129

Pressing position: 21501, 21886

Support position: 20572, 20200

Trading strategy: bearish below 21129, target 20572, 20200

Alternative strategy: bullish above 21129, goals 21501 and 21886

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