Hang Seng Came Into Today Down -3.3%

The Hourly View for Hang Seng

  • At the moment, HSI’s price is down -24 (-0.1%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move up.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe.
  • Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on Hang Seng. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Hang Seng’s hourly price chart is shown below.


The Daily View for Hang Seng

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  • Hang Seng has seen its price go down 10 out of the past 10 days, thus creating some compelling opportunities for bears.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • Most noteworthy in the world of moving averages on the daily chart is that the 50 day moving average has been crossed, with price now being below it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between HSI’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in HSI’s price.

Below is a daily price chart of Hang Seng.


Featured Hang Seng Commentary From Twitter

@EffMktHype Stopped out of the short-term HSI long last week? Or buying more for a turnaround Tuesday.NA