Technical Update - Asia Pacific Equities hit by heavy selling
Kim Cramer Larsson
Technical Analyst, Saxo Bank Group
Summary: Leading Asia and Pacific markets are hit by heavy selling. Hang Seng being in rebound mode seems to hit hard resistance
Hang Seng seems to be rejected at the 76.4 retracement of the falling wedge pattern at around 25,030. If breaking above there is room up till around 25,746 possibly 26,214.
For Hang Seng to reverse the short term uptrend a close of gap is needed.
HK 50 CFD (future)
The 76.4 retracement level seems to be too strong for the HK50 CFD (Index future) selling off heavily. If it breaks below 23,918 it has likely reversed the short term uptrend.
S&P ASX 200 went straight through support at 7,257 closing below next support at around 7,145.
Next strong support is at 6,930. The AUS 200 CFD is continuing the selling today. Next support on the AUS200 CFD (future) is at around 6,835.
Nikkei 225 is approaching crucial support levels at around 26,954 in a wide side ways range. 26,850 on the Japan 225 CFD.Showing weekly time periods on the chart
Quarterly Outlook Q2 2022
Quarterly Outlook Q2 2022: The End Game has arrived
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Productivity and innovation have never been more importantAs the world economy hits physical limits and central banks tighten their belts, could equities be facing a 10-15% downside?
The great EUR recovery and the difficulty of trading itIf the terrible fog of war hopefully lifts soon, the conditions are promising for the euro to reprice significantly higher.
Tight commodity markets – turbocharged by war and sanctionsWith supply already tight, commodities keep powering on. But will it last for yet another quarter?
Between a rock and a hard placeGeopolitical concerns will add upward price pressures and fears of slower growth, while volatility will remain elevated.
The Great ErosionInflation is everywhere and central banks try to combat it. But will they get it under control in time?
Australian investing: Six considerations amid triple Rs: rising rates, record inflation and likely recessionWhile global financial markets are struggling in an uncertain world, the commodity-heavy Australian ASX index is poised to keep a positive momentum.
Cybersecurity – the rush to catch up with realityWith the invasion of Ukraine, governments and private companies are rushing to reinforce their cyber defenses.
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