Hang Seng may be ready for the rally after testing 200-ma
The Hang Seng index is locked in a consolidation, right above the 200-day moving average.
The market loses volatility, and in order to find a trigger for the move, it may need to test the strategic support zone below (200-day moving average).
That’s the common pattern for the triangular formation - it might be shaken to both sides with quick price impacts before determining the direction.
The logical destination for the move would be the 24500 area: after testing this area, the market may reverse higher and find a buying pressure as shown at the chart below.
Don't forget - this is just the idea, always do your own research and never forget to manage your risk!