HANG SENG INDEX is on a 5 day downtrend A slight improvement can be seen from today's session: HANG SENG INDEX moves 0.1% to close at 15,166 today.
Even though HANG SENG INDEX was subdued and remained within tight ranges, investors maintained interest for government debt at all maturities. The iShares U.S. Treasury Bond ETF has gone up 0.86% to trade at $22.36, thereby indicating that government bond yields were downbeat across the yield curve.
With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Momentum evaluation shows that the Relative Strength Index indicates HANG SENG INDEX is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. According to asset volatility analysis, HANG SENG INDEX's upper Bollinger Band® is at 18,400 and the lower is 15,300.
The current technical outlook indicates HANG SENG INDEX will continue to ebb sideways within tight ranges for the immediate future.
While HANG SENG INDEX was pretty flat today, mixed performances were seen elsewhere as CAC went up by 1.94% today, and closed at 6,250.55. S&P 500 added 1.63% and closed around 3,797.34 today.
HANG SENG INDEX has shed 26.17% over the past three months.