HK50 approaching significant resistance, could be a turning point
Watching the Hang Seng (HK50) closely here. It's pushing up against the 19000-19200 area, which has acted as pretty strong resistance multiple times over the past year. On the weekly, it looks like a clear rejection zone. If it can break convincingly above that, say a daily close over 19300, then we might see a run towards 20000. But if it stalls here and starts to put in lower highs on the intraday charts, I'd expect a retest of the 18500 support fairly quickly. The risk for any bullish continuation is a firm rejection at this resistance, sending it back into the established range. Not calling for a short, just noting the critical level.
Good call on the HK50. I've been watching that zone too and it feels like a really pivotal level. Do you think there's enough macro tailwind to push it through this time, or are we more likely to see a rejection again?