Hang Seng may rise to 17250 - 17410

Pivot

17000

Our preference

Long positions above 17000 with targets at 17250 & 17410 in extension.

Alternative scenario

Below 17000 look for further downside with 16850 & 16610 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances

17630

17410

17250

17116 Last

17000

16850

16610

Number of asterisks represents the strength of support and resistance levels.