HANG SENG Index Chart Technical Analysis, Graph Forecast, Trading Strategy - Holding above its previous major resistance, will favor bulls as long as holds above. (Updated on 11th August 2014, Monday).

HANG SENG INDEX

• As per previous report published on Hang Seng, index has now corrected as RSI Index was trading in overbought zone. (Click here to see previous report published on Hang Seng Index).
• Now daily chart indicates index will be testing is support around 24100, its previous resistance which is now acting as a major support. As long as index trades above it will favor bulls. If starts trading below its previous resistance then index will show first sign of weakness.
• Weekly chart indicates Index has formed bullish head and shoulder bullish formation as long as Index holds above its resistance zone in weekly chart it will favor short - long term traders.
• Suggested Reading - DOW JONES Index moving up from strong trend line and 200 DMA, Will favor bulls as long as holds above.
• Daily chart also indicates Index is holding its 50 days moving average support, from last 3 times HANG SENG moved up from 50 DMA as shown above in graph no 3. As long as index holds above it will favor bulls. Close Watch.
• Click here to see all the forecast (trading strategy) published by us on HANG SENG.
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