Technical Update - ASX200, Hang Seng & China A50 Technical Update - ASX200, Hang Seng & China A50 Technical Update - ASX200, Hang Seng & China A50

Technical Update - ASX200, Hang Seng & China A50

Equities 2 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank

 

S&P ASX 200 has found support at the top of the cloud and above the 55 daily Moving Average. Positive RSI sentiment indicates ASX 200 is likely to move higher. A close above 7,293 will confirm that. Resistance at around 7,370, however. If broken a move towards 7,600 is in the cards.
IF ASX 200 closes below 7,141 it is likely to initiate a downwards move to 7,000-6,900

Source all charts and data: Saxo Group

Hang Seng is testing key support at around 19,523. A likely close below could fuel a sell-off down 18,814. A close below that support there is downside potential 17,287-17K.

Strong resistance at around 20,782. If HSI breaks above 20,322 that resistance is likely to be tested.

FTSE A50 seems destined for another go at the support at around 12,820. If closing below a sell-off could hit A50 down to 12,000-11,830

To  reverse this likely bearish scenario a close above 13,522 is needed

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