HANG SENG INDEX closed at 20,000 Friday after 6th straight days of drops

Friday at a glance: HANG SENG INDEX ended Friday at 20,000 following from closing Friday at 20,351. Overall, this represents a loss of 351.35 points or 1.68%.

The MACD is significantly below its signal line which suggests that the existing bearish sentiment is beginning to swing around toward a more bullish outlook. HANG SENG INDEX's lower Bollinger Band® is at 19,949, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Technical analysis indicates that HANG SENG INDEX's current downtrend might soon change course and start climbing up in the short term.

In the meantime, negative performances are also seen in other markets, CAC is down to 7,187.27, losing 130.16 points, after ending the previous session around 7,317.43. After ending Friday's session at 15,476, DAX lost 275.69 points and is trading around 15,200. After ending Friday's session at 4,258, EuroSTOXX lost 79.18 points and is trading around 4,178.82.

The index has been trending lower for about 28 days. HANG SENG INDEX hit a significant low of 14,700 around 3 months ago, but has since recovered 38.57%.