Courtesy of Chris Kimble.
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The Hang Seng Index is now testing a support line that has been in play for nearly 40-years. From a technical analysis perspective, few times do you see a single support line that has been in play this long and tested multiple times for multiple decades.
Even during the financial crisis in 2008-2009 in the states, this support line came into play again in 2009.
The Hang Seng and the S&P 500, both bottomed together back in 1974-1975.
What the Hang Seng does at support, will be important to this index going forward.
It could also impact the future of the markets in the States, so keep a close eye on what happens going forward
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