Hang Seng : At lower level in the 15 min time frame the stock has taken support at its 200 EMA.

The Index is trading near its Resistance level, this is a level which needs to be observed. If the Index corrects from this level we might see a cup and handle formation if the index takes support at 27820 level if not we won't be  seeing a cup and handle pattern.

If the Index closes above the Resistance line ( 2 candle consecutive ) we will see an upward move towards the next resistance zone (27960-80).

Rsi is supporting the upward move and if the Index is able to sustain above resistance and the rsi is upward moving we can expect the move to be strong.

Macd crossover at lower levels and surpassing above 0 is also a good sign.
Index is trading above the Ichimoku Cloud as well.

Only buy once the Resistance zone is surpassed and sustained nor ignore.

Buying Opportunity

Jul 14 2021

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