It has been about a month since I posted about Hong Kong Hang Seng Index . I have decided it is time to re-examine the Hong Kong Market again.
I was looking at HSI using EMA envelope last time and I was waiting for a rebound using EMA envelope. It did not happen and I also warned myself that not to open any long position because the market was in a down trend.
We shall analyse the market using support and resistance today.
Indeed, Hong Kong HSI dived down from May high to the level of Mar low. Luckily, it did not break the Mar low yet, otherwise the consequences can be more damaging.
Now, it managed to support well at 21,000 which is also the Mar low and it rebounded yesterday with a white candle. The immediate resistance I am seeing will be approximately 22,216 region.
The market is very volatile this week and I think it will continue to be volatile in the coming weeks as well. We need to monitor closely on how the global market is performing tomorrow and next week.
DISCLAIMER: This information is used for learning purposes only. It does not constitute an offer or solicitation to buy or sell. You should do your own analysis on top of my postings.
anybody here know of a good site to find more info on index market? I\’ve got this site bookmarked and im gonna keep checking it out, but i still would like to find a site that covers index market a little more thoroughly..thanks