The Hang Seng Index had continued its upward move. Reaching a higher high compare to the previous week. Everything is going well in this current uptrend. The trend is slowly building its strength.
3 Months Daily Chart
The HSI is staying above the 7 and 30 day EMA. The market has been moving in a particular pattern which involved a big upward moved in one day then followed by few days of consolidation. As far as the current uptrend is concern, it was making higher peaks and troughs. Typical seen in an uptrend.
1 Year Weekly Chart
The HSI remained above the 13 and 30 week EMA. With the 13 week EMA started to slope upwards.
Overall both the current and long term trend are UP. The market is likely to test higher highs with the latest resistance on 22000 points.
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