Hong Kong Index Shorting Opportunity

Published On: 21 October 2022, 9:30 AM | Donny Lew, Senior Dealer

  • Taking a look at the Hong Kong Index, we can see that price is currently in the downtrend channel.

  • In the coming days we see a possibility of it retracing back to the resistance levels with the red arrow shown

  • Several possibilities can be observed from the chart above. The market could consolidate within the ranges of 16000 and 17000, it might start to retrace back to resistance level 17000 observed in chart or resume the original downwards trend, breaking new fresh low price

  • Traders can prepare to start shorting when price hit the resistance level as mentioned earlier, keeping in mind of the overall bearish sentiments.

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