Index

Hang Seng may fall to 16030 - 16450

2024-08-12

Pivot

17700

Our preference

Short positions below 17700 with targets at 16450 & 16030 in extension.

Alternative scenario

Above 17700 look for further upside with 18500 & 19150 as targets.

Comment

As long as the resistance at 17700 is not surpassed, the risk of the break below 16450 remains high.

Supports and resistances

19150 **

18500 ***

17700 ***

17130 Last

16450 ***

16030 ***

15440 **

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

This is not investment advice. Past performance does not represent future performance. Your funds are at risk, please trade with caution and responsibility.


Author:

Paul Reid
Tradingtop

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