Categories: Technical analysis

HK50 Wave Analysis 30 April, 2021

• HK50 reversed from pivotal resistance level 29325.00

• Likely to fall to support level 28380.00

HK50 index recently reversed down from the pivotal resistance level 29325.00 (which stopped the previous impulse waves (c) and 1).

The resistance zone near the resistance level 29325.00 was strengthened by the upper daily Bollinger Band and by the 50% Fibonacci correction of the ABC wave (4) from February.

HK50 index is likely to correct down further toward the next support level 28380.00 (which has been reversing the price from the start of April).

The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

Share
Published by
The FxPro News Team

Recent Posts

EURCHF Wave Analysis 20 December 2024

- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…

2 days ago

USDCHF Wave Analysis 20 December 2024

- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…

2 days ago

The US dollar ends the year on a strong note

The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…

2 days ago

How deep will crypto dive?

The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…

3 days ago

EURGBP Wave Analysis 19 December 2024

- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…

3 days ago

EURJPY Wave Analysis 19 December 2024

- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…

3 days ago

This website uses cookies