Hang Seng IndexLong
Hang Seng Index - Better days ahead?
Updated
The Hang Seng Index has finally broken out of the short-medium term downtrend, as you can see, the market opened out of the channel I have drawn previously and is looking to challenge the 25,700 level. Expectations of a Biden win has led to positive expectations on the future growth prospects of the China/Hong Kong market.
In my opinion, I expect a contested election due to Trump's extremist behaviours. This may represent more uncertainty in the U.S. market; leading to a sell off. And may also act as a tailwind to Hong Kong/China with funds flowing in as a hedge. In the long-run, I am bullish on Hong Kong/China's growth prospects!
Views are my own and should be meant for discussion and educational purposes only. Please make your own investment/trading decisions!
In my opinion, I expect a contested election due to Trump's extremist behaviours. This may represent more uncertainty in the U.S. market; leading to a sell off. And may also act as a tailwind to Hong Kong/China with funds flowing in as a hedge. In the long-run, I am bullish on Hong Kong/China's growth prospects!
Views are my own and should be meant for discussion and educational purposes only. Please make your own investment/trading decisions!
Note
The HSI closed Friday with a bullish pinbar, MACD is also bullish. Hoping to see the HKEX open higher come Monday.Note
As expected, the markets opened higher today. Probably on the news that Biden has won the election. Hopefully this signals a break out of the previous downtrend and the start of a new bull market in the HK exchange!
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