This is my first market review on this blog which I will talk about my opinion on the Hang Seng Index in general.
The overall market trend is UP and we are still in the Stage 2 of a bull market. On the daily chart, HSI had fall below the 30 day EMA indicating a pullback from the recent high. Which I expect the HSI will retest the 22000 level very soon. The closest support level for HSI will be 21000. On the weekly chart, HSI had fall back to the 13 week EMA. This MA should provide some support to HSI. The HSI is still well above the 30 week EMA which is at the level around 21000. The 30 week EMA is the key weekly moving average that we use to different between overall bull and bear market.
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