Hang Seng Intraday: bullish bias above 16400.
Pivot: 16400
Our preference: long positions above 16400 with targets at 16750 & 16950 in extension.
Alternative scenario: below 16400 look for further downside with 16260 & 16050 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
17110
16950
16750
16562 Last
16400
16260
16050
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