Sunday, May 24, 2015

Indices short term support and resistance

Daily DT, Weekly UT
Strong support around 5,580, tested for 3 weeks.  Resisted by Diff RL
Potential resistance around 5,692, 5,760 and 5,840
Potential support around 5,580, 5,500 and 5,320

UT.  Create new high. Broke weekly Diff RL and strong resistance 20,360.  New diff formed.  Diff SL supported
Potential resistance around 20,900
^, 22,500^
Potential support around 20,109, 19,865, 19,448 and 19,092
^Est figure using chart provided by Yahoo finance

Hong Kong
UT.  Shared with a chat group on Wed. Consolidated for 3 days, Diff supported.  Broke out on Fri (22 May) and tested 27,970 and 28,210 resistance.  It need to trade above  and closed above 27,970 for more upside.
Potential resistance around 28,210, 28,460, 28,620 and 28,871.
Potential support around 27,970, 27,546, and 27,120

Hong Kong China H-Shares
UT. Broke lhf on daily and broke pwh on weekly chart, trend resistance was tested.
Potential resistance around 14,773, 14,852, 15,354 and 16,406
Potential support around 14,513, 14,081, 13,779 and 13,686

UT.  Moving higher gradually with small ROC in rising wedge (bearish pattern) and test resistance 7,047.  Do go slow with SL in place.  Overall seem weak.
Potential resistance around 7,047, 7,079 and 7,105
Potential support around 6,949 and 6,919

UT.  Broke lhf in weekly chart and formed a new weekly diff.  Move within Diff, Price below MA.  Looking to short if break hlf, SL will be Diff RL.
Potential resistance around 11,994, 12,238 and 12,380
Potential support around 11,719, 11,471, 11,326 and 11,216

UT.  New Diff formed, moving within symmetrical triangle. May watch for break out or break down
Potential resistance around 3,450, 3,466, 3,488 and 3,516
Potential support around 3,435 and 3,405

Daily DT, Weekly UT
On a weekly chart, it broke lhf and continue to move higher, broke 8,435 resistance
More in favour to short when price move higher, preferable at channel resistance.
Potential resistance around 8,578 and 8,705
Potential support around 8,358, 8,223 and 8,127

No comments:

Post a Comment