hang seng index daily outlook for tues 14 feb target almost met at 24860 but bullish tone remain int
<p>What happened earlier The Hong Kong 40 (proxy for the Hang Seng Index) has almost met our upside target at 24860 as expected . Please […]</p>
Share this:
What happened earlier
The Hong Kong 40 (proxy for the Hang Seng Index) has almost met our upside target at 24860 as expected . Please click on this link for more details on our previous daily outlook.
Key elements
- The 24540 support also corresponds closely with the 38.2% Fibonacci retracement from 11 February 2015 low to the current high.
- The 25150 resistance is also close to the 0.764 Fibonacci projection from 11 February 2015 low to the current 17 February 2015 low.
- The hourly Stochastic oscillator still has some “room” before reaching its “extreme” overbought level.
Key levels
Pivot (key support): 24540
Resistance: 24860 & 25150
Next support: 24200 (weekly pivot)
Conclusion
Elements remain positive and we have tightened the daily pivotal support to 24540 for another a push up to 24860 before targeting the significant resistance at 25150.
However, a break below 24540 is likely to see a slide towards the 24200 weekly pivotal support.
Disclaimer
The information contained in this material is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs. All queries regarding the contents of this material are to be directed to City Index Asia Pte Ltd.
Related tags:
Latest market news
Open an account in minutes
Experience award-winning platforms with fast and secure execution, and enjoy tight spreads from 0.5 pts on FX and 0.3 pts on indices.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
StoneX Financial Pte. Ltd. is not under any obligation to update this report.
Trading CFDs carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.forex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.