Technical Update - Hang Seng Index and FTSE A50 future
Kim Cramer Larsson
Technical Analyst, Saxo Bank Group
If HIS closes above the falling trendline there is resistance at 17,026 and 17,682 i.e., the gap formed a couple of weeks ago.
IFHSI slides back lower lows towards 11,345 should be expected
FTSE China A50 future ha bounced strongly back above falling trendline. The future could test the resistance at 12,294 but is likely to be rejected and A50 to resume downtrend. If A50 closes above 12,94 there could be more upside to the upper falling black trendline. Some resistance at 12,897 and strong resistance at 13,502
There is no divergence on RSI indicating lower levels are likely. If A 50 closes below its lower falling trendline bear trend is likely to resume towards lower lows
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