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The Hang Seng index fell about 4% in this particular month while the market is hitting the swing lows back from about two years ago which might serve with the EMA200 as support on the monthly periodicity.
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The daily has been trending lower for about six days while the mentioned supportive monthly level was able to lift the market up by about 1.1% in today’s session. Asian session closed with minus 0.6%. The market has a bearish bias as it’s trading below the Quarter’s value.
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The hourly perspective got rotational while the market-tested sellers around the current DVAH of the VWAP. Swing highs might be targeted for absorption purposes while the upper prior VWAP close may be serving as a selling level.
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