The HSI had breakdown from the support level at 21000. Overall it has been a bearish week last week.
3 Months Daily Chart
On the daily chart, HSI was in a trading Channel between 21000-22500. It had just broken the support level at 21000. Its is possible that is will hit 20000. The current 3 months trend is sideway trend and possible break out from 21000.
1 Year Weekly Chart
On the weekly chart, the HSI is lying on the support level of 30 wk EMA. Meaning the current index is relatively undervalue or oversold. A possible big rebound will be on the way. The current 1 year weekly Trend is UP.
Overall the long term trend is UP but the current 3 month trend is sideway. I think the index will rebound very soon.
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