Hang Seng may fall to 16450 - 16900

Pivot

17700

Our preference

Short positions below 17700 with targets at 16900 & 16450 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 ***

17575 Last

16900 ***

16450 ***

16030 **

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