Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Global Head of Macro Strategy
You can access all of our platforms from a single Saxo account.
Technical Update - ASX 200 rejected at resistance. Hang Seng & China 50 continuing down trend
Equities 3 minutes to read
Kim Cramer Larsson
Technical Analyst, Saxo Bank
ASX 200 formed on the 20th July a Gravestone Doji candle which is an indication of a top and reversal. Not the best top and reversal indicator but nevertheless. Combined with negative RSI as in this case it is fairly reliable.
A sell-off down seems likely. However, there is some support around 7,200 with all daily Moving Averages rising and clustered together. That could mean that the downside potential is limited.
In fact ASX200 could be range bound between 7K and 7,400 for quite some time. For upside momentum a close above the peak of the Gravestone Doji i.e., above 7,384 is needed.
Until that scenario plays out ASX200 is likely to be quite depressed.
An Index close below the 200 Moving Average is likely to fuel a sell-off down to /K
A close above 7,384 there is strong resistnace at around 7,633
Hang Seng Index down trend is continuing and is likely to test support at around 18,050 shortly. A close below could fuel a sell-off down to 17K
Hang Seng is below the Cloud and all Moving Averages, and RSI is negative with no divergence supporting the Bearish picture.
To demolish and potentially reverse that a close above 19,535 is needed.
China A 50 (future) is almost similar to Hang Seng; Below the Cloud, below all Moving Averages and negative RSI.
A test of support at around 12,200 is in the cards. A close below is likely to fuel a sell-off lower to 11,300
To reverse the bearish picture a close above 12,870 is needed.
Latest Market Insights
Equities
Quarterly Outlook
-
-
Quarterly Outlook
Equity Outlook: The ride just got rougher
Charu Chanana
Chief Investment Strategist
-
Quarterly Outlook
China Outlook: The choice between retaliation or de-escalation
Charu Chanana
Chief Investment Strategist
-
Quarterly Outlook
Commodity Outlook: A bumpy road ahead calls for diversification
Ole Hansen
Head of Commodity Strategy
-
Quarterly Outlook
FX outlook: Tariffs drive USD strength, until...?
John J. Hardy
Global Head of Macro Strategy
-
Quarterly Outlook
Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy
-
Quarterly Outlook
Equity Outlook: Will lower rates lift all boats in equities?
Peter Garnry
Chief Investment Strategist
After a period of historically high equity index concentration driven by the 'Magnificent Seven' sto... -
Quarterly Outlook
Commodity Outlook: Gold and silver continue to shine bright
Ole Hansen
Head of Commodity Strategy
-
Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
The Fed started the US rate cut cycle in Q3 and in this macro outlook we will explore how the rate c... -
Quarterly Outlook
FX Outlook: USD in limbo amid political and policy jitters
Charu Chanana
Chief Investment Strategist
As we enter the final quarter of 2024, currency markets are set for heightened turbulence due to US ...