Hong Kong’s Hang Seng index broke through resistance at 20000 to signal a primary up-trend but is likely to first retrace to test the new support level. 63-Day Twiggs Momentum crossed above zero to strengthen the bull signal — and respect of the rising trendline would confirm the new up-trend.
* Target calculation: 20000 + ( 20000 – 18000 ) = 22000
The Shanghai Composite index broke out of its descending trend channel, indicating that the down-trend has weakened and a bottom is forming. A sharp rise on 13-week Twiggs Money Flow indicates medium-term buying pressure. Expect resistance around the previous peak of 2500.
