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HK50,Daily Bias Still Bullish
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The HK50 price forecast in our January 22, 2021 technical analysis was bullish.
Market developments after HK50, Daily technical analysis las Friday indicate bullish momentum still.
- HK50, Daily is up currently 1.5% since our January 22, 2021 technical analysis.
- However, business confidence indicator in Hong Kong slumped to -17 in Q1 of 2021 from -8 in the previous period – this is a downside risk.
Here is what indicators show as of January 25, 2021:
- The Parabolic Indicator gives a bullish signal.
- The Donchian Channel gives a neutral signal: it is flat.
- The MACD indicator gives a bullish signal.
- The RSI oscillator gives an overbought signal.
- The Fractals give a bullish signal.
- The MA(200) Indicator gives a bullish signal.
So the forecast remains bullish for the HK50, Daily.
| Order | BUY |
| Buy stop | Below 30115.6 |
| Stop loss | Above 27761.4 |
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