Technical Update - Hang Seng
Kim Cramer Larsson
Technical Analyst, Saxo Bank
Tuesday morning Hang Seng tested 2016 and 2012 lows at around 18,250. A bounce from here should be expected and we can see the future/HSI 50 cfd is trading higher this evening (European time zone) . A bounce to around the 0.382 Fibonacci retracement at around 20,800 is not unlikely before selling pressure could resume.
However, a Daily close below today’s low could fuel another sell off taking Hang Seng down to 16,170.
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