US indices are struggling in the wake of Meta’s earnings last night, but the Hang Seng is showing fresh strength.
Alternately, a close back below 16,970 will bring the late 2021 high at 16,630 into play, and then on down to the 200-day simple moving average .This index also took a knock on Wednesday, though it continues to look like it has created a higher low.A pushback above the week's highs so far at 5093 would mark a bullish development, open the way to the 50-day SMA, and then on to the highs from late March at 5274.
Sellers will want to see a reversal back below the 100-day SMA and below last week’s low at 4925 to provide a more bearish view.This index has seen an impressive bounce from the lows of mid-April, which has carried it above 17,000 and the 200-day SMA. It has also succeeded in closing above the latter, for the first time since July.If the price can manage a close above 17,200, then this will be a significant development.
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