The Hong Kong Index has faced challenging years since reaching its all-time high in 2018.
The downtrend accelerated in 2021, bringing the index to a low of around 15,000.
The subsequent reversal aligned neatly with horizontal resistance and the 50% Fibonacci retracement level, indicating that the bears were not finished yet.
Indeed, 2023 also saw a continued downtrend.
However, and this is crucial, the index did not make a new low. Instead, the decline halted at the strong 15,000 support level.
In early 2024, a significant break above the falling trend line was observed at the end of April. The correction that followed confirmed the broken trend line, suggesting that this breakout is genuine and indicates a long-term shift in trend.
September began with a higher low, followed by a powerful surge above the 20,000 level for the first time in over a year.
This sequence of events suggests the potential beginning of a long-term bull trend, with the possibility of the index reclaiming the 23,000 level by 2025.
For those looking to initiate a long-term buy position, there are two key levels to watch: 19,500, the former resistance level, and 18,500, which now serves as strong support.
The downtrend accelerated in 2021, bringing the index to a low of around 15,000.
The subsequent reversal aligned neatly with horizontal resistance and the 50% Fibonacci retracement level, indicating that the bears were not finished yet.
Indeed, 2023 also saw a continued downtrend.
However, and this is crucial, the index did not make a new low. Instead, the decline halted at the strong 15,000 support level.
In early 2024, a significant break above the falling trend line was observed at the end of April. The correction that followed confirmed the broken trend line, suggesting that this breakout is genuine and indicates a long-term shift in trend.
September began with a higher low, followed by a powerful surge above the 20,000 level for the first time in over a year.
This sequence of events suggests the potential beginning of a long-term bull trend, with the possibility of the index reclaiming the 23,000 level by 2025.
For those looking to initiate a long-term buy position, there are two key levels to watch: 19,500, the former resistance level, and 18,500, which now serves as strong support.
交易结束：到达目标
HSI touched my target zone after a short lived dip.
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
相关出版物
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。