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HK50 Bias Is Still Bearish
The HK50 price forecast in our March 12, 2020 technical analysis was bearish.
Market developments after HK50,D1 March 12, 2020 technical analysis still indicate bearish bias.
- Hong Kong unemployment rose to above expected 3.7% in the three months to February from 3.4% in the prior period.
- China's industrial output, retail sales fell in the first two months of the year.
Here is what indicators show as of March 18, 2020:
- The Donchian Channel gives a neutral signal.
- TheMA(200) Indicator gives a bearish signal.
- The Parabolic indicator gives a bearish signal.
- The Fractals give a bearish signal.
- The MACD indicator gives a bearish signal.
- The RSI oscillator gives a neutral signal.
So the bearish forecast still stands for the HK50,D1.
Order | SELL |
Sell stop | Below 21626.7 |
Stop loss | Above 25186.4 |
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