Sunday, July 12, 2015

Indices short term support and resistance


Most the indices sold down for past 2 weeks, time to watch trend line resistance to see whether is the recovery sustainable.  If can closed above those trend line resistance for 2-3 days is a positive sign with potential for more upside.  I will go long on breaking lhf.  Nothing is 100%, always have SL in place.

Australia
Daily DT, Weekly Neutral
Gap down on Mon, tested channel support on Thu.  Resisted by trend line.
days for more upside
Potential resistance around 5,528, 5,617 and 5,735
Potential support around 5,463, 5,381 and 5,316

Japan
Daily Neutral, Weekly UT
Gap down on Mon, new diff formed and trade above Diff.  

Potential resistance around 20,402, 20,619, 20,900 and 22,500^ 
Potential support around 20,052, 19,883, 19,740 and 19,092
^Est figure using chart provided by Yahoo finance

Hong Kong
Daily DT, Weekly UT 
Sell down continue from Mon to Wed, covered the gap 2-8 Apr, nearly test channel support (yet to test) and rebounded. New Diff is formed.
Potential resistance around 25,571, 26,681 and 27,262
Potential support around 23969, 22,745, 22,409 and 21,682

Hong Kong China H-Shares
Daily DT, Weekly UT.
Similar to Hong Kong, sell down from Mon to Wed.  Broke Channel Support but yet to break trend line support (white color).

Potential resistance around 12,404, 13,021, 13,595 and 14,047
Potential support around  11,821, 11,366 and 10,450

UK
Daily DT, Weekly Neutral.
Gap down on Mon, trade and closed above one of the trend line support, heading towards another trend line resistance and tested weekly Diff RL
Potential resistance around 6,578, 6,661, 6,809 and 6,949
Potential support around 6,429, 6,297 and 6,125

Germany
Daily DT, Weekly UT
Gap down on Mon and gap up on Fri testing trend line resistance, still trading within Channel.  If Germany retrace, the gap between 9-10 Jul may be covered, 10 Jul DL will be one of the important support level.
Potential resistance around 11,147, 11,570, 11,774 and 11,994
Potential support around 10,930, 10,653 and 10,272

Singapore
CMC Markets no long provide the chart as they have switch to STI Futures, SiMSCI but the data are too little to TA.

India
Daily UT, Weekly UT
The upper DT Channel will be the important support for India to have more upside.  I will be long when break lhf.  If any of the day closed within the DT channel, time to be caution.  If closed within the DT channel for 2-3 days, I will get out from my long pos first.
Potential resistance around 8,435, 8,578 and 8,705
Potential support around 8,323, 8,223, 8,178 and 7929



Key event to watch out  (SG Time)
13 Jul, Mon
  • 0000 EU Leaders Summit  
  • 1025 CNY Trade Balance

14 Jul, Tue

  • 1630 GBP CPI (Jun)
  • 1700 German ZEW Economic Sentiment (Jul)
  • 2030 US Core Retail Sales (MoM) (Jun)   
  • 2030 US Retail Sales (MoM) (Jun)

15 Jul, Wed

  • 1000 CNY GDP (Q2)
  • 1000 CNY Industrial Production (YoY) (Jun)
  • 1430 JPY BoJ Press Conference
  • 1630 GBP Average Earnings Index +Bonus (May)
  • 1630 GBP Claimant Count Change (Jun)     
  • 2030 US PPI (MoM) (Jun)
  • 2200 Fed Chair Yellen Testifies    
  • 2200 CAD BoC Monetary Policy Report
  • 2200 CAD Interest Rate Decision
  • 2315 CAD BoC Gov Poloz Speaks    

16 Jul, Thu

  • 0645 NZD CPI (Q2) 
  • 1700 EUR CPI (Jun) 
  • 1945 EUR Interest Rate Decision (Jul) 
  • 2030 EUR ECB Press Conference    
  • 2200 Fed Chair Yellen Testifies 
  • 2200 US Philadelphia Fed Manufacturing Index (Jul)

17 Jul , Fri

  • 0200 GBP BoE Gov Carney Speaks 
  • 2030 US Building Permits (Jun)
  • 2030 US Core CPI (MoM) (Jun)
  • 2030 CAD Core CPI (MoM) (Jun)    

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