. Hang Seng Index Price &Weekly Technical Analysis - 12 April 2023

Hang Seng Index Price &Weekly Technical Analysis – 12 April 2023

Hang Seng Index Price &Weekly Technical Analysis – 12 April 2023

12 Apr 2023

Hang Seng Index Technical Analysis: Weekly Chart

weekly chart

In the weekly charts, Hang Seng was trading in a down channel. Hang Seng is currently trading below all SMA.

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 19000.00 the resistance level is at 21000.00

Hang Seng Index will trade in a down channel until there is a trend reversal.

Hang Seng Index Technical Analysis: Daily Chart

weekly chart

In the daily charts, Hang Seng was trading in a down channel. Hang Seng is currently trading below all SMA except MA (5)

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 19000.00 the resistance level is at 21000.00

Hang Seng Index was traded in a down channel before there is an upside breakout.  

How to Trade Hang Seng this Week:

Hang Seng will follow the uptrend until its trend reversal. So, remain bullish on Hang Seng.

TRADE SUGGESTION- BUY AT 20417.00, TAKE PROFIT AT 21000.00 AND STOP LOSS AT 19000.00