Hong Kong Hang Seng Index Stock Market Trends August 10, 2008

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Do you trade in Hong Kong stock market? I was expecting HSI to swing sideway when I looked at the Hong Kong HSI Stock Market Trends chart end of last month.

It was trading near the 50d MA as a resistance last 2 weeks and it finally broke down on the 20d MA during the last 3 trading days. Does that signal a down trend?

To me, 21,000 still remains a critical support to watch for Hong Kong HSI. HSI has not broken the March Low yet, and it is one of the 2 markets in the world that has not broken the year low. Another market is Singapore STI to retest the March Low.

So, it is highly possible that HSI will re-test the critical support at 21,000 level before swing up or sideway. That will be a critical point if we decide to long the stock or the index.

Hong Kong Hang Seng Index HSI Stock Marke Trends Outlook

Hong Kong Hang Seng Index HSI Stock Marke Trends Outlook

About the Author

KP Yang

KP Yang is a private trader are passionate about invest and make money in the stock market. He also enjoy using technical analysis to study the market trend and formulate trading strategies based on TA. "There is NO Secret Ingredients. That's just YOU" - Kungfu Panda. He believe practice makes perfect, everyone can be successful in the stock market by constantly learning, practicing and taking action.

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