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March 20, 2023
HANG SENG INDEX ended Friday's trading session by losing 2.65% and is now trading at 19,000.
The Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. A crossing of the lower Bollinger Band® at 19,253 suggests further losses may follow for HANG SENG INDEX.
Overall, looking at the technical analysis landscape, it seems HANG SENG INDEX is likely to continue pointing down in the short term.
In the meantime, negative performances are also seen in other markets, after ending Friday's session at 6,994.8, ASX 200 lost 96.3 points and is trading around 6,898.5. Nikkei closed at 26,946 (down 1.42%).
Other assets are showing positive performances as CAC moves up 1% to trade around 6,995.42.
