Hang Seng Index finally broke above 22800 on Thursday 15th Oct. The market continue its gain and closed @ 23067.37 (+179.20) on Friday. As for October futures contract, it closed @ 23100 (+188). The range for spot month futures was between 22931-23132 (201).
Can HSI sustains above 23000? As market moved 2027 points since the first trading day of October, we believe profit taking or correction could happen.
Dow Jones closed +74 @ 17215 on Friday. For HSI in the coming week, 23000 is an important support. Break below this level will see 22800 and further support 22450. On the upside, near resistant is at 23300 and SMA 100- 23800 is a crucial resistant.
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