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Hang Seng – Support and resistance level

Market always are forgetful. When it is bullish, it forgets the bad news, and when it is bearish, it conveniently forgets the good news. And it keeps on recycle it over and over again. Now that market is rallying, all I want is for market to go higher so that we have a clear direction. When it is not clear, it is hard to “predict” a direction, but when the direction is clear, sooner or later it will turn the opposite direction, therefore just have to wait for the nice signals.

Today in Singapore is one of the heavier volume days. Shortists either cutting loss, buyers coming in or just pent up demand. Either way, volume is higher and this is a good sign as when market needs to go up or down, volume is needed. Today a lot of counters in Singapore break its resistance. If you are thinking to chase, just take note that cut loss is a lot further away.
Hang Seng Index

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