HangSeng Index likely to slide to 22,000 & possibly Covid low
The Hang Seng Index is trading around the lower boundary of the long uptrend channel & looks poised to test support around the 22,000 level. A dip towards the Covid intra-day low 21,139 may not be out of the question given that 1,000 point intra-day moves in the HSI occurs frequently enough.
A critical level for me would be 23,150. I would establish a short position on a break below this level.
A critical level for me would be 23,150. I would establish a short position on a break below this level.
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HSI inching towards the critical level. It may yet bounce so have to be patient.
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The COVID low is only about 900 points away.