Short-Term Bearish Pressure Tests - Await for confirmationHang Seng IndexHSI:HSIChenQianYuHSI From previous post, this September is undergoing July’s cycle. What do you think? As of 25 September 2026 Key level to watch: R2 25085-25100 R1 24960 Pivot 24700 -24800 S1 24565 S2 24370-24300 (we are around here) S3 23917(0.618Fibo) S4 23292 (0.786 Fibo) S5 22495 D Chart The index traded below GTL (25046) early this week, failing to continue its reversal. It may continue to retrace back toward the -10% level (23292 – 22500 range). 5MA (24700 – 24800) is the immediate resistance to break in order to reverse the trend. However, this seems unlikely in the next few weeks without a strong catalyst. MACD: Formed a almost DeadCross below the zero level. W Chart: GravityTrendLine (GTL): 25263 MACD : formed a GoldenCross below zero level on end July but for August it doesnt have enough strength to touch or break above zero level; which means the index remained weak and short term bearish. Long-Term Outlook: The index is moving sideways, potentially in accumulation mode. The ultimate key support level for the long term remains 22500. KDJ : RSI turned below 50 in early September. Stick to your plan, manage your risk. Be patience. The markets will channel profit towards your efforts and energy. Feel free to save and use the GTL indicator as reference and play around with other instruments. Same analysis applies on other CFD on Hang Seng Index. Happy Trading!