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Technical Update - Hang Seng Index, HK50, China A50 and JP225

Equities 3 minutes to read
Kim Cramer Larsson

Technical Analyst, Saxo Bank

Hang Seng Index ran out of steam just below 19K not even coming close to the upper falling trendline. Index has resumed downtrend and seems destined for a move down to 17K support.

RSI is showing negative sentiment underlining the bearish picture.
A close above 18,900 will most likely just pause the downtrend. A close above 19,350 is needed to demolish the bearish picture.

55 and 100 Moving Averages are declining  providing overhead resistance and underlying bearish sentiment.

Medium-term Hang Seng is forming a falling channel. To reverse the medium-term bearish trend a close above 20,400 is needed
hsi d 0809
Source all charts and data: Saxo Group
hsi w 0809

HK50 cfd was rejected at the 55 Moving Average just shy of 19K. Downtrend resumed with potential down to around 17K
A close above 18,915 is needed to demolish this bearish picture

hk50 d 0809
China A50 future Seems to be range bound between 13K and 12,200.
Medium-term trend is down however, and A50 is likely to test the 12,200 shortly.

A close below could fuel a further sell-off down to around 11,335
A close above 13,065 will demolish the short-term bearish picture but it would need a close above 13,500 to reverse the downtrend
a50 d 0809
a50 w 0809

JP225 cfd did close above its falling trendline but failed to follow through with a close above 33,400 resistance.
However, JP225 is in an uptrend both short- and medium-term and with the RSI showing positive sentiment on both daily and weekly chart, JP225 is likely to have another go at the resistance at 33,400 shortly. A close above is likely to lead to new highs above June peak at around 34K

To demolish this bullish scenario a close below 31,300 is needed
jp225 d 0809
jp225 w 0809


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