HSI closed down -1.9%, failed all six major supports mentioned earlier.
The most important failure among the six is the breach of the 18.5-years purple uptrend line. It had been breached twice in 2008 and 2009 during the subprime bear market (light blue arrows). On both occasions, HSI opened above the purple line, closed below, and recovered the very next day. Today, HSI opened below the purple line already, which is the worst among the breaches. Let’s see if it can surge more than 500 points to recover the trendline tomorrow!
360miq.com/market?data=HKEX#tab-3
