Sunday, June 7, 2015

Indices short term support and resistance

Most markets are moving lower, US Indices had been testing channel support for last 4 months and now Hong Kong and Japan in consolidating mode, potential big movement coming. I will be extra caution and continue to go slow.

Daily DT, Weekly UT
Broke strong support 5,580, likely going to test the channel support
Potential resistance around 5,573, 5,617 and 5,721
Potential support around 5,500, 5,413 and 5,316

UT.  In consolidation for about 2 weeks within Diff, potential explosive coming
Potential resistance around 20,659, 20,900^, 22,500^
Potential support around 20,357, 20,237, 20,114 and 19,973
^Est figure using chart provided by Yahoo finance

Hong Kong
UT.  Still in consolidating mode between 26,933 and 28,620.  Breaking down, may see lowering to cover the gap between 2 and 8 Apr.
Potential resistance around 27,974, 28,213 and 28,460
Potential support around 27,262, 26,933, and 26,681

Hong Kong China H-Shares
UT. Still in consolidating mode between 14,916 and 13,686.  Breaking down, may see lowering to cover the gap between 2 and 8 Apr.
Potential resistance around 14,513, 14,621, 14,773 and 14,873
Potential support around 13,686, 13,021 and 12,404

Neutral.  Broke Wedge support, Weakness will continue
Potential resistance around 6,949, 7,047, 7,079 and 7,105
Potential support around 6,809, 6,710 and 6,578

Daily DT, Weekly UT.
Germany is back in the original trend channel and now is on halfway mark of the channel. Weakness may continue till channel support is tested
Potential resistance around 11,326, 11,471 and 11,893
Potential support around 11,216, 10,930, 10,653 and 10,272

Daily DT, Weekly UT. 
Trend channel Support is tested.
A false break out on Mon and Tue.  On Wed, it broke down and continue to sell down on Fri.  Weakness in short term.
Potential resistance around 3,355 and 3,405
Potential support around 3,301 and 3,263

DT.  Did not test channel resistance and continue to move lower.
Potential resistance around 8,127, 8,223 and 8,358
Potential support around 7,996, 7,817 and 7,538

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