Hang Seng may fall to 16030 - 16600

Pivot

18500

Our preference

Short positions below 18500 with targets at 16600 & 16030 in extension.

Alternative scenario

Above 18500 look for further upside with 19300 & 20000 as targets.

Comment

The RSI is bearish and calls for further downside.

Supports and resistances

20000 **

19300 ***

18500 ***

17635 Last

16600 ***

16030 ***

15440 **

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