Hang Seng Tech Rocket Ship Running on FumesHang Seng Tech futures look like they’re running out of rocket fuel after the recent surge, hinting that a fresh catalyst may be needed to recalibrate the trajectory higher. That could mean a pullback before another move up.
Price, oscillators, and volumes have rolled over in unison, putting the uptrend established in January firmly on the radar. It’s found today around 5630, with minor support just above at 5710.
A break and close beneath the uptrend would strengthen the case for a trend reversal, pressuring weak longs and likely encouraging bears to target additional downside.
Levels to watch include 5484, 5300, and 5140 on the downside, while 5710 and 6209 remain in focus on the topside if the uptrend holds.
Good luck!
DS
