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Technical Update - ASX200, Hang Seng & China A50

Equities 5 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank

S&P ASX200 has revered its uptrend and looks set to drop further. A test of the rising trendline seems likely.
IF breaking the trendline there is support around the 0.618 retracement at 7,167.

If ASX200 closes above 7,477 uptrend is to resume.

 

asx200 d 17feb
Source all charts and data: Saxo Group

Hang Seng Index seems heavy and seem is likely to test support at around 20,185. A spike down to 19,605 – 19,303 could be seen. However, RSI is still showing positive sentiment and if Hang Seng closes above 21,638 uptrend resumes with likely new highs to follow.

hsi d 17feb
FTSE China A50 future is finding support at the 200 daily SMA. Downtrend confirmed however, and further down side to strong support at around 12,800 seems likely.
RSI below 40 confirms the negative sentiment. A close above 13,838 will reverse the down trend.  

a50 d 17feb

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