Thinking About Riding the HSI Downtrend? Read This First

The Hourly View for Hang Seng

  • At the time of this writing, HSI’s price is down -73.22 (-0.3%) from the hour prior.
  • The hourly chart shows that Hang Seng has seen 3 straight down hours.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe.
  • Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being below it. 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’s hourly price chart is shown below.


The Daily View for Hang Seng

  • Currently, HSI’s price is up 163.11 (0.67%) from the day prior.
  • Hang Seng has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • The moving averages on the daily 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.
  • Divergence alert: Trend in HSI’s price and its RSI are diverging. HSI’s price is declining faster than its RSI.

Below is a daily price chart of Hang Seng.


Featured Hang Seng Idea From TradingView

Below is a trading comment entitled USD/JPY REACHED THE HIGHEST LEVEL SINCE MARCH 2020 you may find interesting:

The US dollar traded higher against all the other major currencies on Tuesday and Wednesday. The most currencies it outperformed are GBP, NZD, and AUD, while it eked out the least gains versus EUR.The rally of the US dollar across the board, especially against the commodity-linked currencies Aussie and Loonie and against the pound, which has been acting as a risky asset lately, suggests that market sentiment deteriorated again yesterday. Indeed, turning our gaze to the equity world, we see that major global indices were a sea of red, tumbling on average nearly 2%, as US Treasury yields kept marching north. The only exception was Hong Kong’s Hang Seng, which is up 0.51%. The US dollar continues to show plenty of strength against pretty much everything, and that, of course, includes the Japanese yen. With that being the case, it looks like that the price is threatening the ¥112 level now, which key res…