Daily chart of HSI:
On daily chart, the index is still under the upward flag as mentioned before. The lower bound for the flag has become a strong resistant to the index. However, as the line is increasing, the conclusion we can draw is the index will not surge greatly.
Strong support is still at 18000 on daily chart. Besides that, there seems to be no other major supports underneath. Let's see weekly charts for more hints.
Weekly chart of HSI:
The index is still within the two boundaries, green and red solid lines. They give strong support and resistant at 18500 and 20400 respectively.
HSI was supported by the 10-week Simple Moving Average two weeks ago and surged last week. It has now reached the 50-week SMA so we can see whether it can resist the index.
Combining the two charts, it looks more likely for the index to plunge this week, given the resistant from the flag on daily chart and 50-week SMA on weekly chart. Support is at 19000 given by 10-week SMA on weekly chart, but it is expected to be weaker than before.
On daily chart, the index is still under the upward flag as mentioned before. The lower bound for the flag has become a strong resistant to the index. However, as the line is increasing, the conclusion we can draw is the index will not surge greatly.
Strong support is still at 18000 on daily chart. Besides that, there seems to be no other major supports underneath. Let's see weekly charts for more hints.
Weekly chart of HSI:
The index is still within the two boundaries, green and red solid lines. They give strong support and resistant at 18500 and 20400 respectively.
HSI was supported by the 10-week Simple Moving Average two weeks ago and surged last week. It has now reached the 50-week SMA so we can see whether it can resist the index.
Combining the two charts, it looks more likely for the index to plunge this week, given the resistant from the flag on daily chart and 50-week SMA on weekly chart. Support is at 19000 given by 10-week SMA on weekly chart, but it is expected to be weaker than before.
No comments:
Post a Comment