1
Hang Seng Testing Key Zone, My Thoughts
Been watching the Hang Seng ($HSI) closely the past few sessions. It's currently right at that 17,000-17,200 area, which has acted as pretty strong support previously. What I'm seeing is a potential bounce play here if it can hold. The risk, for me, is a clear daily close below 16,800. If that happens, then we're likely looking at a retest of the lower 16,000s, possibly even the 15,000s, and this whole idea is off the table. It's a critical juncture, could go either way but I'm leaning towards a hold for now, just with tight risk management in mind.
1 comments · 1 points
Interesting breakdown of the HSI. I agree that the 17,000-17,200 range is significant, but I'm curious about the volume profile in this area on the prior bounces – was it substantial enough to suggest strong accumulation, or more of a dead cat bounce each time?