Sunday, July 24, 2016

Indices short term support and resistance

Daily UT, Weekly Neutral
A new diff is formed and closed above Diff.  May test higher before a pull back.
Potential resistance around 5,528, 5,617, UT Channel Resistance, 5,735
Potential support around TLU4, 5,463, TLU5, 5,316, UT Channel Support, 5,266

Daily Neutral, Weekly DT
Closed slightly above Diff.  Outside day formed on Thur while Fri is an inside day.  Need to overcome TLU2 for more upside.
Potential resistance around 16,896, TLU2, 17,328, 17,890, DT Channel Resistance
Potential support around 16,581, TLU3, TLD1, TLU1, 15,418, 14,795

Hong Kong
Daily UT, Weekly DT 
Broke out of symmetrical triangle (TLD6, TLU6).
To maintain the up trend, any pull back need to close above TLU2
Potential resistance around 22,409, TLU4, 23,969, TLU1 
Potential support around 21,682, 21,080, TLD6, TLU2, TLD5, TLU5, 20,011

Hong Kong China H-Shares
Daily UT, Weekly DT 
Broke out of symmetrical triangle (TLD6, TLU7) and trade within the Diff
If unable to break out from Diff, may see a pull back.
Potential resistance around 9,006, 9,195, TLD4, TLU2, 9,658
Potential support around TLD6, 8,637, TLU6, TLD5, 8,102

Daily UT, Weekly Neutral
Directionless for 2 weeks.
Potential resistance around 6,809, TLU2, 6949, 7,047, 7,079, 7,127
Potential support around 6,578, 6,429, 6,297, TLD2, 6,125

Daily Neutral, Weekly DT
Covered 23 Jun gap.  Strong resistance at weekly diff (10,347)
Potential resistance around 10,189, TLD4, TLU1, TLD3, 10,653
Potential support around 9,924, 9,679, 9,468, TLD2, 9,216

Daily UT, Weekly Neutral
Directionless after the gap up last week.  Any pull back, UT channel lower band is a strong support for potential rebound
Potential resistance around 8,578, 8,705, 8,836, UT Channel Resistance, 9,006
Potential support around 8,435, UT Channel Support, TLU2, 8,223, 8,085, 7,991

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