When Hang Seng Index(HSI) broke through to 23,500 levels, it was observed that a negative divergence is forming on the Histogram. It served as a warning that the current trend is losing strength. Now, we are experiencing a global sell off and fear is in the air. Using Technical Analysis, let us look at 1 possible support level for HSI. As highlighted, we will be looking at if the orange trendline can turn from resistance to support. 50 days Moving Average is also nearby and we might see confluence of signals.
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DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
