HK50 Bias Is Still Bearish

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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.

    OrderSELL
    Sell stop Below 21626.7
    Stop lossAbove 25186.4

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