On 2021231, the Hang Seng Index HSI. Previous review mentioned the confidence index on December 30 ✮✮✩✩✩
The Hang Seng Index opened high at 23,253 points, hit a low at 23,008 points, closed at 23,086 points, down by 194 points. Trading volume was 62.9 billion.
Today, the Hang Seng Index traded very thinly, giving the feeling that the market is completely short of funds. The shrinking trading volume may indicate a turning point, and we may know the real direction tomorrow. Looking at the following data, it is clear how small the trades are sometimes half a day market can have such a trading volume.
On December 24, 2020, 97.9 billion (Christmas Eve).
On February 11, 2021, 92 billion (Chinese New Year's Eve).
On May 3, 2021, 95.8 billion.
On May 4, 2021, 90.8 billion.
October 5, 2021, 99.7 billion.
On December 22, 2021, 92.7 billion.
On December 24, 2021, 51.7 billion (Christmas Eve) half-day market.
On December 29, 2021, 62.9 billion (full-day market **)
If we use the daily chart to temporarily observe, a reversal trend has emerged, with a bearish reversal candle appearing, falling below the lower purple channel line indicating a high chance of testing the bottom of the blue ascending channel around 22,900 to 22,800 points, suggesting a more bearish sentiment.
If we use moving averages to analyze banks, for now, the horizontal drop has pierced through all the averages, with the 3-day, 5-day, and 10-day averages entwined together, indicating a waiting-for-change pattern, the slope of the 20-day average...