Hang Seng Weekly Outlook: Technical Analysis
02 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 below all SMA.
RSI is in buying zone, which shows bullishness. Stochastic is suggesting no trend.
Its immediate support is at 18477 & the resistance is at 18992
After going downward, Hang Seng switched direction, and the price began trading upward. The Hang Seng has formed a hammer and is currently trading at a key resistance level; if this level is broken, the Hang Seng will likely continue to rise.
HANG SENG TECHNICAL ANALYSIS: DAILY CHART
In the daily chart, Hang Seng is trading in the down channel.
Hang Seng is currently trading below 20&50 SMA.
RSI is in buying zone, which shows bullishness. Stochastic is suggesting an up trend.
Its immediate support is at 18711 & the resistance is at 18985
Although the price of the Hang Seng is now trying to go upward after breaking the previous day, it is trading at a key resistance zone, and if it breaks, we may anticipate the price to move upward.