Hang Seng Index has been rising steadily in the last few weeks and is currently approaching the buy target 23500.00 that was set in our earlier report for this index. The price previously broke above two consecutive resistance trendlines from last December.
After breaking the last of these trendlines – HSI recently corrected down to the support level 23000.00 – from where it reversed up sharply. HSI is expected to rise to the nearest buy target 23500.00 – followed by 24000.00 (which created the top of the previous intermediate impulse (1)).
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