Sunday, May 22, 2016

Indices short term support and resistance


Australia
Daily UT, Weekly DT
Directionless for 2 weeks, a new weekly diff is formed.
Potential resistance around 5,463, 5,528, 5,617, TLU2, 5,735
Potential support around TLU3, 5,316, TLU6, 5,266, 5,138, 5,025

Japan 
Daily DT, Weekly DT
Broke out on Tue, resisted by TLU4, after that trading Directionless for 2 weeks. In weekly chart, 3rd week of inside day.  Forming symmetrical triangle, TLD6 and TLU6. COT buying interest is not that positive too.
Potential resistance around TLU4, 16,896, 17,328, TLD6, 17,890
Potential support around  16,581, TLU5, TLU6, TLD4, 15,418, 14,795

Hong Kong
Daily DT, Weekly DT 
Trading below diff for 2 weeks, no clear direction. TLU3 may be tested again.  If TLU3 fail to hold, may test current year low at 18,051
Potential resistance around 20,011, TLU2, TLD5, 21,080, TLU4, 21,682, 22,409
Potential support around  19,073, TLU3, TLD4, 18,051, TLD1,  16,648

Hong Kong China H-Shares
Daily Neutral, Weekly DT 
Directionless for this week.  If TLU3 fail to hold, current year low may be tested.
Potential resistance around 8,637, 9,006, TLD5, TLU4, 9,195, TLU2, TLD4, 9,658
Potential support around 8,102, TLD3, TLU3, 7,479, TLD2, 6,727

UK
Daily Neutral, Weekly DT
Consolidating between 6,070 and 6,237.  If break down from consolidation, may see testing TLU3 again.
Potential resistance around 6,297, 6,429, 6,578, TLU2, 6,809
Potential support around 6,125, 6,070, 6,010, TLD1, TLU3, 5,894, 5,768

Germany
Daily UT, Weekly DT
Resisted by TLU1.  If break down recent low, may see testing 9,468 (Apr low)
Potential resistance around 9,924, TLU3, TLU1, 10,189, 10,653
Potential support around TLD2, 9,679, 9,468, 9,216, 8,928

India
Daily UT, Weekly DT
Continue to hover along down trend upper channel.  In weekly chart, an outside day bar is formed, potential of a new trend.
Potential resistance around 7,817, 7,929, 7,991, 8,085, TLU2, 8,223
Potential support around 7,682, 7,538, 7,417, 7,216, TLD2, 6,887


Key event to watch out  (SG Time)
23 May, Mon
  • Canada holiday
  • 1530 EUR German Manufacturing PMI (May)  
24 May, Tue
  • 1400 EUR German GDP (QoQ) (Q1) 
  • 1700 EUR German ZEW Economic Sentiment (May) 
  • 2200 USD New Home Sales (Apr)  
25 May, Wed
  • 1600 EUR German Ifo Business Climate Index (May) 
  • 2200 CAD Interest Rate Decision   
  • 2230 USD Crude Oil Inventories 
26 May, Thu
  • 1630 GBP GDP (QoQ) (Q1) 
  • 1630 GBP GDP (YoY) (Q1) 
  • 2030 USD Core Durable Goods Orders (MoM) (Apr) 
  • 2200 USD Pending Home Sales (MoM) (Apr) 
27 May, Fri
  • 2030 USD GDP (QoQ) (Q1)

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