Hong Kong Tech Index’s Trading StrategyPublished On: 9 January 2023, 10:00 AM | Huang Zixing, Dealer
- Taking a look at the daily chart of the Hong Kong Tech Index, the price has broken the long-term resistance level (blue line). Currently, the price is trading between the yellow line (mid-term support level) and the green line (mid-term resistance level).
- According to Elliott Wave Theory, at present, the price is in the third upward wave move. In the coming weeks, it could potentially go upwards to the green resistance line at 5,000. However, a break below the yellow support line may serve as an indication that the momentum has shifted and is poised towards the downside.
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