HK50 index Wave Analysis 30 December, 2020

• HK50 index broke resistance area

• Likely to rise to 28000,00

HK50 index recently broke above the resistance area lying between the key resistance level 27000,00 (monthly high from November) and the resistance level 26725,000 (monthly high from March and July).

The breakout of this resistance area accelerated the active upward impulse waves 5 and (C).

HK50 index is expected to rise further to the next resistance level 28000,00 (target price for the completion of the active impulse waves 5 and (C)).