The Hang Seng Index is approaching its target of 22,000. Expect retracement to test the new support level at 20,000. Respect would confirm a strong primary up-trend.
* Target calculation: 20000 + ( 20000 – 18000 ) = 22000
A monthly chart of the Shanghai Composite Index reflects China’s soft landing over the last two years. The gentle down-trend is likely to continue, with the current rally testing the descending trendline around 2850.
