Hang Seng may fall to 16600 - 17100

Pivot

18500

Our preference

Short positions below 18500 with targets at 17100 & 16600 in extension.

Alternative scenario

Above 18500 look for further upside with 19200 & 19700 as targets.

Comment

The RSI calls for a drop.

Supports and resistances

19700 **

19200 ***

18500 ***

17815 Last

17100 ***

16600 ***

16100 **

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