News Releases Impacting Hang Seng

  • Forecasted Inflation Rate YoY in Hong Kong: 1.7%. The actual number: 1.2%. (41.67% difference between the two.)

The Hourly View for Hang Seng

  • Currently, HSI’s price is up 18.71 (0.08%) from the hour prior.
  • It’s been a feast for bulls operating on an hourly timeframe, as Hang Seng has now gone up 4 of the past 5 hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on Hang Seng. Given that we see downtrend on the 20 and 10 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 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

  • At the time of this writing, HSI’s price is down -157.64 (-0.65%) from the day prior.
  • This is the 2nd day in a row Hang Seng has seen its price head down.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • Of note is that the 100 day changed directions on HSI; it is now pointing down. 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.

HSI