Sunday, February 21, 2016

Indices short term support and resistance


Australia
Daily DT, Weekly DT
New weekly diff is formed.  Resisted by TLD3 after running up for 6 trading days.  A pull back before resuming higher will be good.  For more upside, need to close and stay above TLD3 for 2-3 days.
Potential resistance around TLD3, 5,025, TLU3, 5,138, TLD4, TLD5, 5,266
Potential support around  TLU4, TLU6, 4,833, TLD1, 4,696, 4,601, 4,351

Japan 
Daily DT, Weekly DT
New weekly diff is formed. Resisted by TLU4.  Close above TLD3 for 2-3 days is the first sign of possible turning to bullish before can test recent high 17,890.  COT buying interest for Nikkei is at extreme while Yen selling interest is at extreme.  Currently Yen had an inverse relationship with Nikkei.
Potential resistance around TLU4, 16,581, 16,896, TLD3, 17,328,  17,890
Potential support around  TLU5, 15,418, TLD2, 14,366, 13,843, 13,315, 12,411



Hong Kong
Daily DT, Weekly DT 
New weekly diff is formed. Resisted by TLD2. Technical rebound have managed to cover the gap between 5 and 11 Feb. To continue with the positive momentum, need to overcome and close above TLD2
Potential resistance around  TLD2, 20,011, TLD4, TLU2, 21,080
Potential support around 19,073, TLD1, TLU3, 18,051, 16,648, TLD3, 14,958, 13,819

Hong Kong China H-Shares
Daily DT, Weekly DT 
Similiar to HK, technical rebound covered the gap between 5 and 11 Feb.  New daily and weekly diff is formed.  Need to continue to stay above trend support, TLU3.  To be bullish again, need to break and close above 8,637 for 2-3 days.
Potential resistance around 8,102, 8,637, TLD2, 9,006, 9,195
Potential support around TLU3, TLD1, 6,727, 5,939, 4,990

UK
Daily DT, Weekly DT
New daily and weekly diff is formed.  Continued to rebound, resisted by TLD3.  6,125 is the level to watch if can closed and stay above, potential to be bullish
Potential resistance around TLD2, 6,010, TLD3, TLD1, 6,070, 6,125, 6,297
Potential support around 5,894, TLU1, 5,768, 5,637, TLU3, 5,433

Germany
Daily DT, Weekly DT
New weekly diff is formed.  Watching 9,924 level for potential turn to bullish
Potential resistance around 9,468, 9,679, TLU1, TLU2, 9,924, 10,189
Potential support around 9,216, 8,928, TLD1, 8,758, 8,349, 8,087

India
Daily DT, Weekly DT
New daily and weekly diff is formed.  Tested DT lower channel and rebounded.  If can continue to stay above TLD2, may see testing weekly Diff RL.
Potential resistance around 7,216, 7,417, 7,538, TLD3, 7,682
Potential support around TLD2, 6,887, 6,695, 6,307, TLU1

Key event to watch out  (SG Time)
22 Feb, Mon
  • 1630 EUR German Manufacturing PMI (Feb) 
23 Feb, Tue
  • 1500 EUR German GDP (QoQ) (Q4)  
  • 1700 EUR German Ifo Business Climate Index (Feb) 
  • 1800 GBP BoE Gov Carney Speaks
  • 2300 USD CB Consumer Confidence (Feb)   
  • 2300 USD Existing Home Sales (Jan)   
24 Feb, Wed
  • 2300 USD New Home Sales (Jan)   
  • 2330 USD Crude Oil Inventories 
25 Feb, Thu
  • 1730 GBP GDP (YoY) (Q4) 
  • 1730 GBP GDP (QoQ) (Q4) 
  • 1800 EUR CPI (YoY) (Jan) 
  • 2130 USD Core Durable Goods Orders (MoM) (Jan) 
26 Feb, Fri
  • 2130 USD GDP (QoQ) (Q4) 

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