HANG SENG INDEX Chart Technical Analysis, Graph Forecast, Trading Strategy - INDEX has now entered in overbought zone can see some correction. (Updated On 30th July 2014, Wednesday).

HANG SENG INDEX

• As per previous report published on HANG SENG - INDEX gave a sharp up move after breaking its resistance zone of 24000-24300. (Click here to view previous report on HANG SENG Index).
• Now daily chart indicates stock is on bull run after breaking its major resistance as shown above in chart no.1.
• Weekly chart indicates Index has formed bullish head and shoulder bullish formation once stock closes above its major resistance 24000- 24300 in weekly chart then bulls to get active for short - long term - as long as Index holds above its resistance zone in weekly chart.
• Currently index is trading above its major trend line resistance close watch closing in weekly chart is important to give more strength in Index.
• Recommended report to read - ASX ALL ORDINARIES Technical Analysis Chart.
• Daily chart also indicates HANG SENG is now trading in over bought zone as RSI Indicator is now moved above 70 levels which indicates a sign of caution and Index may see some correction.
• But close watch as long as stock holding above its previous resistance of 161.8% fibonacci retracement, index is looking bullish and can test its next resistance of 261.8% fibonacci retracement around 25700. As shown above in chart no.3. Close Watch.
• Click here to see all the forecast (trading strategy) published by us on HANG SENG INDEX (as per technical analysis point of view).