Hong Kong stocks regain on Monday after 7
consecutive loss, with the benchmark index
jumped to an almost a week
high, as properties shares jumped.
The benchmark Hang Seng Index (HSI) had gap up
opening and continued trade with
positive biased and closed at
24646.02 with gain of 1.29 percent.
Technically, Hang Seng index forming a distribution
pattern and it is facing major
resistance of 25000, couple with
appearance of MACDs bearish gap, showing
momentum can be strong.
Hang Seng index first support would be 24200, while
next support would be seen at 2
3900. For resistance 24,800 become
first resistance, while next resistance would be seen at
25,000.
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