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
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