Sunday, May 29, 2016

Indices short term support and resistance


Australia
Daily UT, Weekly DT
Trying to break out in daily chart but still within weekly Diff.  No clear direction for the 3rd week.
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 Neutral, Weekly DT
In daily chart, broke out on Wed but still within the symmetrical triangle (TLD6 and TLU6).  Waiting for clearer signal, else will trade short term.
Potential resistance around 17,328, TLD6, 17,890, 18,565
Potential support around 16,896, TLU4, 16,581, TLU5, TLU6, 15,418

Hong Kong
Daily Neutral, Weekly DT 
Break out of daily Diff and closed above Diff for 3 days, short term is positive.  If unable to close above TLU2 for more than 3 days, watch TLU5 for support.  
Potential resistance around TLU2, TLD5, 21,080, TLU4, 21,682, 22,409
Potential support around  20,011, 19,073, TLU3, TLD4, 18,051, TLD1, 16,648

Hong Kong China H-Shares
Daily Neutral, Weekly DT 
Broke lhf in weekly chart.  Need to break and stay above TLD5 for more than 3 days for more upside.
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 UT, Weekly DT
Broke out from consolidation and directionless on last 2 days of the week.  Due to Brexit referendum on 23 Jun, market may be getting more volatile with various news.  TLD2 will be the resistance line to watch out.
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
Broke and closed above TLU1 for 3 days, short term is positive.  May test Apr high.  If can break and close Apr high, may see testing TLD3.
Potential resistance around  10,653, TLD3, 10,930, 11,147
Potential support around 10,189, TLU3, TLU1, 9,924, TLD2, 9,679, 9,468

India
Daily UT, Weekly Neutral
Rallied for 3 consecutive days after testing the trend upper channel on Tue.  May watch for entry on pull back.
Potential resistance around 8,223, 8,435, 8,578, 8,705
Potential support around TLU2, 8,085, 7,991, 7,929, 7,817, 7,682


Key event to watch out  (SG Time)
30 May, Mon
  • UK and US holiday
  • No important data 
31 May, Tue
  • 1555 EUR German Unemployment Change (May)
  • 1700 EUR CPI (YoY) (May)
  • 2030 CAD GDP (MoM) (Mar)
  • 2200 USD CB Consumer Confidence (May)
01 Jun, Wed
  • 0900 CNY Manufacturing PMI (May)
  • 0930 AUD GDP (QoQ) (Q1)
  • 0945 CNY Caixin Manufacturing PMI (May)
  • 1555 EUR German Manufacturing PMI (May)
  • 1630 GBP Manufacturing PMI (May)
  • 2200 USD ISM Manufacturing PMI (May)   
02 Jun, Thu
  • 0930 AUD Retail Sales (MoM) (Apr)   
  • 1630 GBP Construction PMI (May)
  • 1945 EUR Interest Rate Decision (Jun)
  • 2015 USD ADP Nonfarm Employment Change (May) 
  • 2230 USD Crude Oil Inventories 
03 Jun, Fri
  • 1630 GBP Services PMI (May)  
  • 2030 USD Nonfarm Payrolls (May) 
  • 2030 USD Unemployment Rate (May) 
  • 2200 USD ISM Non-Manufacturing PMI (May) 

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