Hang Seng TECH Index

Hang Seng Tech Index: Rectangle May Hint at Trend Resumption

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The Hang Seng Tech Index appears to be carving out a Rectangle chart pattern on the 4-hour setting.

The ceiling seems to be at 4883 with the floor at 4300.

Breaking above could open the door to extending the mid-March bounce, but that would place the focus on a long-term falling trendline from February 2021.

The latter may reorient the index lower. On the other hand, clearing the trendline could open the door to a material change in trend.

Breaking under the rectangle exposes the 23.6% Fibonacci retracement at 4044 before the March low comes into play at 3463.

HSTECH

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