Hang Seng is neutral

Pivot

16030

Our preference

Long positions above 16030 with targets at 20000 & 21400 in extension.

Alternative scenario

Below 16030 look for further downside with 14800 & 13000 as targets.

Comment

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

Supports and resistances

22700 **

21400 **

20000 ***

17411 Last

16030 ***

14800 ***

13000 **

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