HANG SENG INDEX is trading around 18,950, up by 4%

After closing the previous trading day at 18,217, HANG SENG INDEX is up to 18,950, which makes for a move of 4%/733.03 points today.

Trend-following investors would be interested to note that 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. According to asset volatility analysis, HANG SENG INDEX's lower Bollinger Band® is at 18,961, indicating that the market is oversold and fertile for new buyers.

With market volatility ebbing, the current technical outlook indicates HANG SENG INDEX will remain range-bound for the immediate future.

HANG SENG INDEX shows positive signs, other assets are also on par: Dow Jones leaps up 2.24% to trade around 33,800. FTSE is up 1.56% to 7,607.28. CAC soars 1.87% to trade around 7,270.69.

The index has been trending lower for about a month. HANG SENG INDEX reached a significant high of 22,700 around 4 months ago but has lost 19.71% since then.