Hang Seng Index dropped more than 470 points now. What's next? HSI has suffered from one of the biggest drops on 10 August 2017 in one month. The index had an upward bias since it made the recent low of 25199 on 5 July 2017 and made a recent high at 27876 on 8 August 2017. Investors like you may be concerned whether this upward bias is coming to an end.
From a technical analysis perspective, the upward bias of this index remains unless we see the recent low of 25199 be taken out. Based on our forecast, the index may potentially retrace to 26850 as our first target level or 26200 as our second target level. Investors like you may consider taking a prudent step to buy the index at these levels if they take the position that the upward bias remains intact. On the other hand, it is possible for this index to continue its upward bias without retracing to these levels. In such cases and based on our forecast, the index may potentially reach 28200 as our first target on the upside, followed by 29000 as our second level target.
Stay tuned for our further update on this index movement.
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