Hang Seng Outlook: Bullish Momentum Building
19 Jun 2023
HANG SENG WEEKLY SCENARIO
HANG SENG TECHNICAL ANALYSIS: WEEKLY CHART
In the weekly chart, Hang Seng is trading in the down channel.
Hang Seng is currently trading above all SMA.
RSI is in buying zone, which shows bullishness. Stochastic is suggesting an up trend.
Its immediate support is at 19928 & the resistance is at 19234
After a significant decline, the price of the Hang Seng on the weekly chart reversed and began trading upward. As of right now, the Hang Seng has formed a bullish flag pattern and is trading at a critical resistance zone; if this is broken, an additional upside is possible.
HANG SENG TECHNICAL ANALYSIS: DAILY CHART
In the daily chart, Hang Seng is trading in an up channel.
Hang Seng is currently trading above all SMA.
RSI is in buying zone, which shows bullishness. Stochastic is suggesting an up trend.
Its immediate support is at 19695 & the resistance is at 19955
After falling and correcting, the price of the Hang Seng on the daily chart reverted to the upside and began rising. At the moment, the price is trading at a crucial resistance zone; if this zone is broken, an additional upside is possible.