The market is worried about the global economic recession, and the Hang Seng Index fell sharply

Fundamental analysis:

Hong Kong's Hang Seng Index closed down 357.96 points, or 1.75%, at 20112.1 on May 24 (Tuesday); The market is worried about the global economic recession, and the international financial markets fell. The three major indexes of Hong Kong stocks maintained a decline throughout the day. The Hang Seng Index and Hang Seng technology index finally closed down by 1.75% and 3.48%, both of which were close to the important index level. Heavyweight technology stocks led the market down again, with JD falling more than 5%, meituan and Baidu falling more than 4%, Tencent and Xiaomi falling nearly 3%; Today, the southward capital bucked the trend, with a net inflow of HK $2.286 billion and a large market turnover of HK $113.6 billion.

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

Technical comments: the low-level Bull Power maintained the concussion and moved upward to the narrow range of the upper rail section in the brin belt index channel. During this period, it repeatedly spied back and forth on the narrow range of the upper rail section. The brin belt index showed a closing trend and continued to shift. The short power showed signs of waiting for the opportunity to enter. The MACD index was in the weak hovering near the 0 axis line, and the RSI index began to decline after narrow range consolidation near the 50 equilibrium line;

Long short turning point: 20226

Pressing position: 20665, 21089

Support position: 19642, 19231

Trading strategy: bearish below 20226, target 19642, 19231

Alternative strategy: bullish above 20226, target 20665, 21089

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