Technical forecast for Hang Seng CE Index

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HSCEI hit profit taking & as expected broke support at 11083 to test 10996/910 which did hold as predicted but any longs need stops below 10870 today. We then look for 10798, possibly 10660/20 for a buying opportunity.

Resistance at 11260/11305 where we should struggle. Only a break above last week’s high of 11374 then allows further gains to resistance at 11524. Exit longs & try shorts here with stops above the March high of 11584.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More