HangSeng Index likely to slide to 22,000 & possibly Covid low
The Hang Seng Index is trading around the lower boundary of the long uptrend channel & looks poised to test support around the 22,000 level. A dip towards the Covid intra-day low 21,139 may not be out of the question given that 1,000 point intra-day moves in the HSI occurs frequently enough.
A critical level for me would be 23,150. I would establish a short position on a break below this level.
A critical level for me would be 23,150. I would establish a short position on a break below this level.
Note
HSI inching towards the critical level. It may yet bounce so have to be patient.Note
The COVID low is only about 900 points away.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.