Buying HK50 at key support.HS50 - 21h expiry - We look to Buy at 16461 (stop at 16249)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Further upside is expected although we prefer to buy into dips close to the 16400 level.
Our profit targets will be 16969 and 17169
Resistance: 18540 / 20635 / 22510
Support: 16450 / 14580 / 14000
Disclaimer – Saxo Bank Group.
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