Hang Seng Index Market Outlook 2010-04-18

As expected my from last comment, the HSI did received some selling pressure on around the 22000 level. Ending the week at around the 21800 level.



3 Months Daily Chart

On the Daily chart, the HSI had fall back to the 7 day EMA and staying above the 30 day EMA. The Bollinger band had get continue to get wilder compare to the previous week. In my opinion, the HSI is likely to fall to 21500 level and get support from there. Overall the three month trend is an up.



1 Year Weekly Chart

Both 13 and 30 week EMA are pointing upwards and HSI staying above both EMA. On the weekly chart, it seems to me that it is very likely the HSI will break above the 22000 level and go to probably 23000 level in the longer run. The current 1 year trend is UP.



Overall I am bullish on both short and long term. The HSI may fall lower but I think it is very unlikely to fall below 21000 level.





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