Hang Seng Short: Resistance at 20SMA
Following my warning about Hang Seng on 2nd Oct regarding Hang Seng reaching an important price point, I have yet to publish another idea about this index. One of the reasons is to let the dust settles, the other is to observe what is happening in the US markets.
Now, I am convinced that the US market will be going down and it will pull global equities with it. Hang Seng is no exception. Technically speaking, I like to observe the 20 SMA. Hang Seng seems to be rejected at this SMA and thus I would say that any short will have a stop loss above the 20 SMA.
Now, I am convinced that the US market will be going down and it will pull global equities with it. Hang Seng is no exception. Technically speaking, I like to observe the 20 SMA. Hang Seng seems to be rejected at this SMA and thus I would say that any short will have a stop loss above the 20 SMA.
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