The Hang Seng Index has recorded much bearish behavior in the past several days. However, the technical data indicates that this trend may reverse anytime soon. For example, as I demonstrate below, the 4-hour chart signals that a bullish reversal is imminent. CFD traders can take advantage of this imminent upward movement by entering long positions at an excellent entry price.
• Below is the 4-hour chart of the Hang Seng Index.
• The technical indicators used are the Relative Strength Index, MACD, and Williams Percent Ranges.
• Point 1: The Relative Strength Index (RSI) signals that the price of this pair currently floats in the over-sold territory, indicating upward pressure.
• Point 2: The MACD indicates an impeding bullish cross, signaling that the next move may be in an upward direction.
• Point 3: The Williams Percent Range is showing that this pair is heavily over-sold and may be experiencing strong upward pressure.
Hang Seng Index 4-Hour Chart
