Hang Seng Index at 0.618 Fib: Bullish Setup
The Hang Seng Index has demonstrated strong bullish momentum, adhering closely to its trendline throughout its rally. Following this upward trajectory, the price has undergone a significant retracement, finding support near the critical 0.618 Fibonacci level—a key zone for potential reversals in technical analysis. This pullback has established a higher low at 19,332, indicating sustained bullish pressure and reinforcing the current uptrend. This confluence of the Fibonacci level, trendline support, and higher-low formation presents a compelling buying opportunity, with the potential for continued upside as the bullish structure remains intact.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.