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CFDs and forex (FX) are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider.
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CFDs and forex (FX) are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX, or any of our other products work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits on some products.
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Technical Update - Nikkei 225, Hang Seng & China A50

Technical Update - Nikkei 225, Hang Seng & China A50

Equities 5 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank Group

Nikkei 225 is in an uptrend moving in a rising channel like pattern close to test resistance at around 29,222.
To demolish this short-term bullish picture a close below 28,240 is needed.

Medium-term Nikkei is also in an uptrend and if closing above 29,222 it paves the way for a move towards 2021 peak at around 30,714.
RSI is showing positive sentiment confirming the uptrend

Source: Tradingview
Source: Tradingview

JP225 cfd levels. Testing 29,190 peak from 2022. A break above could lead to move to resistance at around 29,952. If JP 225 drops below 28,233 a correction down to around 27,500 could be seen.

Hang Seng Index has once again been rejected at the 55 daily Moving Average and could be destined for a move below the declining 200 daily Moving Average. Hang Seng could be testing support at around 18,814

For Hang Seng to reverse the bearish picture a close above 20,865 is needed

Source: Saxo Group

The HK50 cfd however, is bouncing from the 200 daily Moving Average and if it can close above 55 and 100 Moving Average the down trend could be in jeopardy.

China A50 future continues its bounce from support at around 12,820 but seems to be struggling at the 55 daily Moving Average. The A50 future could be range bound between 12,820 and 13,651 for the next few weeks. Br5eak out is needed for direction.
If breaking out to the downside medium-term down trend ahs been confirmed with A50 likely to drop to 11,500-11,000.
Breaking out to the upside there is room up to 15K.

Source: Saxo Group

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