Sunday, October 25, 2015

Indices short term support and resistance


Most markets had formed a bottom around Aug period.  Any pull back with lhf will be opportunity to go long but small to build up position.

Australia
Daily Neutral, Weekly DT
Retraced lower and broke TL6.  Formed outside day and broke lhf on Wed.  Need to stay above TL2  for 2-3 days for more upside
Potential resistance around  5,440, 5,463, 5,500, 5,528, 5,617
Potential support around 5,316, 5,266, 5,138, 5,025

Japan
Daily DT, Weekly UT
Broke hlf on Mon and tested TL7, broke lhf on Wed, broke Diff on Thu.
19,200 is the week high for 24 Aug outside day on weekly chart, staying above 19,200 for 2-3 days will have more upside.
Potential resistance around 19,740, 20,052, 20,619, 20,900
Potential support around 19,092, 18,565, 17,890, 17,328

Hong Kong
DT
Broke down from channel in the early week.  On Fri, broke TL3 and closed within UT channel.  Need to stay in the channel for 2-3 days for more upside.
Potential resistance around 23,969, 24,892, 25,571, 26,681
Potential support around 22,409, 21,682, 21,080, 20,011

Hong Kong China H-Shares
DT
Broke out of long term trend line (white color) on Fri.  Need to stay above 2-3 days for more upside.  Immediate support will be 10,711
Potential resistance around 11,080, 11,366, TL4, 11,821
Potential support around 10,711, 10,182, 9,658, 9,195

UK
Daily DT, Weekly Neutral
Formed outside day on wed, broke TL2 on Thu and formed a new Diff.
Need to continue to stay above TL2 and Diff for more upside
Potential resistance around  6,578, 6,809, 6,949, 7,047
Potential support around 6,429, 6,297, 6,125, 6,070

Germany
Daily DT, Weekly UT
Broke TL1 on Thu and on Fri continue to rally back to UT channel. 
Need to stay within the UT channel for 2-3 days for more upside
Potential resistance around 10,930, 11,147, 11,532, 11,774
Potential support around 10,653, 10,272, 9,924, 9,679

India
Daily DT, Weekly Neutral
Need to break and closed above TL2 for 2-3 days for more upside.
Potential resistance around 8,435, 8,578, 8,705 and 8,836
Potential support around 8,223, 8,085, 7,991 and 7,929

Key event to watch out  (SG Time)
26 Oct, Mon

  • New Zealand holiday
  • 1700 German Ifo Business Climate Index (Oct) 
  • 2200 USD New Home Sales (Sep)
27 Oct, Tue
  • 1730 GBP GDP (YoY) (Q3)
  • 1730 GBP GDP (MoM) (Q3)
  • 2030 USD Durable Goods Orders (MoM) (Sep)
  • 2200 USD CB Consumer Confidence (Oct)  
28 Oct, Wed
  • 0830 AUD CPI (QoQ) (Q3)
29 Oct, Thu
  • 0400 NZD Interest Rate Decision
  • 1655 German Unemployment Change (Oct)
  • 2030 USD GDP (QoQ) (Q3)
  • 2200 Pending Home Sales (MoM) (Sep)
  • 1945 EUR Interest Rate Decision (Oct)
  • 2030 CAD Core Retail Sales (MoM) (Aug) 
  • 2200 USD Existing Home Sales (Sep)
30 Oct, Fri
  • 1800 EUR CPI (YoY) (Oct)
  • 2030 CAD GDP (MoM) (Aug)
31 Oct, Sat
  • 0900 CNY Manufacturing PMI (Oct)

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