Hang Seng (HSI) Down 0.13%, Eyes 20 and 50 Day Averages; Pin Bar Pattern Appearing on Chart

The Hourly View for HSI

Last Updated June 10, 2021, 18:18 GMT

At the time of this writing, Hang Seng’s price is down -23.99 (-0.08%) from the hour prior. Hang Seng has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly 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.

Hang Seng Daily Price Recap

Hang Seng closed yesterday down 0.13% (38.75); this denotes the 6th day in a row it has gone down. Relative to other instruments in the equity indices asset class, Hang Seng ranked 6th since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of Hang Seng.


Hang Seng Technical Analysis

For another vantage point, consider that Hang Seng’s price has gone down 16 of the previous 30 trading days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.