Hang Seng may rise to 19700 - 20350

Pivot

18200

Our preference

Long positions above 18200 with targets at 19700 & 20350 in extension.

Alternative scenario

Below 18200 look for further downside with 17700 & 17100 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances

21000 **

20350 ***

19700 ***

18629 Last

18200 ***

17700 ***

17100 **

Number of asterisks represents the strength of support and resistance levels.