Hang Seng may fall to 16030 - 16450

Pivot

17700

Our preference

Short positions below 17700 with targets at 16450 & 16030 in extension.

Alternative scenario

Above 17700 look for further upside with 18500 & 19150 as targets.

Comment

The index currently faces a challenging resistance area at 17700.

Supports and resistances

19150 **

18500 ***

17700 ***

17416 Last

16450 ***

16030 ***

15440 **

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