Hang Seng Index Futures Eyes 26,000 As Bulls Take The Reins
The index began the session at 24,986 and briefly touched a low of 24,916 before surging to a high of 25,168, ending near the peak with a strong bullish candlestick. This pattern further reinforces the ongoing uptrend. In the evening session, HSIF added another 187 points, last seen at 25,321.
RHB Research noted that the bullish momentum remains intact, supported by the Relative Strength Index (RSI) staying above the 50% level and the upward slope of both the 20-day and 50-day simple moving averages (SMA). With these technical indicators aligned positively, the index is expected to head towards the 26,000 resistance level in the near term.
The firm has advised traders to maintain their long positions, first initiated at 21,416 on 14 April, with a stop-loss set at 23,000 to manage downside risk. Immediate support is identified at 23,800, while resistance levels are seen at 26,000 and subsequently at 27,000 if the bullish trend continues. Related
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