Sunday, November 22, 2015

Indices short term support and resistance


This week will have important GDP data from Europe and US.

Australia
Daily Neutral, Weekly DT
Best performer for this week among the selected indices.
New Diff formed and and closed with doji, may be pulling back after such a  run.
Potential resistance around 5,266, 5,316, TLD3, 5,463, 5,528
Potential support around 5,138, TLU2, 5,025, TLD2, TLD1

Japan
Daily UT, Weekly UT
New Diff formed and resisted by new Diff,
Potential resistance around 20,052, TLD1, 20,619, 20,900
Potential support around 19,740, 19,092, TLU3, 18,565, 17,890

Hong Kong
Daily UT, Weekly DT
New diff is formed with broke lhf 2ET.  Need to stay above TLD4 for 2-3 days for more upside
Potential resistance around 23,540, 23,969, TLU1, 24,892
Potential support around TLD4, 22,409, TLD2, 21,682, 21,080

Hong Kong China H-Shares
Daily UT, Weekly DT
Similiar to Hong Kong, new diff is formed with broke lhf 2ET.  Need to stay above TLD2 for 2-3 days for more upside
Potential resistance around 10,711, TLU1, 11,080, 11,366
Potential support around TLD2, 10,182, TLD1, 9,658, TLU2, 9,195,

UK
Daily UT, Weekly DT
New Diff is formed and outside day on Mon.  Resisted by TLD2.  Forming Symmetrical triangle, TLD2 and TLU2.  Watch for potential break out or break down.
Potential resistance around  TLD2, 6,429, 6,489, 6,578
Potential support around 6,297, TLD1, 6,125, 6,070, TLU2, 6,010

Germany
Daily UT, Weekly UT
A new Diff is formed.  Overcome and stay above TLD2 for 3 days, weekly chart also formed outside day.  Look bullish, the run may continue.  Short term support at TLU3
Potential resistance around 11,147, 11,532, 11,774, 11,994
Potential support around TLD2, 10,930, 10,653, TLU3, TLU2

India
Daily Neutral, Weekly DT
In consolidation mode between 7,929 and 7,682.  Need to stay above TLU1 for 2-3 days for more upside
Potential resistance around 7,929, TLU1, 7,991, 8,085, 8,223, TLD1
Potential support around 7,817, TLU2, 7,682, 7,538, 7,417, 7,216
 

Key event to watch out  (SG Time)
23 Nov, Mon

  • Japan holiday - Labour Thanksgiving Day
  • 1630 German Manufacturing PMI (Nov)
  • 2300 USD Existing Home Sales (Oct)   
24 Nov, Tue
  • 1500 German GDP (QoQ) (Q3)
  • 1700 German Ifo Business Climate Index (Nov)
  • 2130 USD GDP (QoQ) (Q3)
  • 2300 USD CB Consumer Confidence (Nov)  
25 Nov, Wed
  • 2130 USD Core Durable Goods Orders (MoM) (Oct) 
  • 2300 USD New Home Sales (Oct)
26 Nov, Thu
  • US holiday - Thanksgiving Day
  • 2130 USD Philadelphia Fed Manufacturing Index (Nov)
27 Nov, Fri
  • US holiday closed early after Thanksgiving Day
  • 1730 GBP GDP (YoY) (Q3)
  • 1730 GBP GDP (QoQ) (Q3)

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