The Hang Seng Index Futures (HSIF) continued its upward trajectory on Tuesday, climbing 339 points to close at 25,921, marking its third consecutive bullish session, according to RHB Investment Bank.
The index opened at 25,579 points, touched a low of 25,524, and rallied to a session high of 26,034 points before settling at 25,921. In evening trading, the index added a further 36 points to 25,957. Analysts noted that the formation of a “higher high” close signals growing bullish momentum, with the HSIF poised to challenge the 26,000-point resistance.
RHB highlighted that if the index breaks above 26,000 points, the next target would be 27,000 points. Meanwhile, the 20- and 50-day simple moving averages continue to trend upwards, providing strong downside support.
Traders are advised to maintain long positions initiated at 21,416 points, with a stop-loss set at 23,800 points. Immediate support levels are 23,800 and 23,000 points, while resistance is anticipated at 26,000 and 27,000 points.
Market watchers said the sustained bullish momentum reflects positive sentiment and could encourage further upside in the near term.
