HSI Technical Analysis

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However, do observe that the 10-day Rate of Change (ROC) of the index on the daily chart has not yet reached its support. The index is inclined to decline further before any short-lived rebound.

On the positive front, the index could see a potential corrective rally set up at the 19,351-19,387 area. 19,387 was the prior low on the daily chart while 19,351 is 0.618x swing target on the weekly chart.

We expect any corrective rally to be contained by the downtrend resistance near 20,800. Our stance is SELL into rallies...
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