Hang Seng may rise to 18500 - 19150

Pivot

16970

Our preference

Long positions above 16970 with targets at 18500 & 19150 in extension.

Alternative scenario

Below 16970 look for further downside with 16450 & 16030 as targets.

Comment

The RSI shows upside momentum.

Supports and resistances

19700 **

19150 ***

18500 ***

18275 Last

16970 ***

16450 ***

16030 **

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