Major Asian Indices Technical Analysis

Monday, January 4, 2016 3:01 AM UTC

Hang Seng:

Hang Seng has broken minor support 21700 which confirms minor trend reversal a decline till 20900 is possible. It is currently trading around 21395
The index resistance is at 21800 and any indicative break above that level will take the pair to next level 22000/22160/22265 level.Short term bearish invalidation only above 22300.
On the lower side minor support is around 21400 and any break below will drag the index till down till 21000/20900 level.

It is good to sell on rallies around 21700-750 with SL around 22000 for the TP of 21300/20925

Nikkei

Nikkei has broken major support 18500 which confirms minor weakness , a decline till 18090/17650 is possible It is currently trading at 19022.
Short term trend is weak as long as resistance 19170 holds.
Any break above 19170 (12 M MA) above targets 19300/19460/19690. Minor resistance is around 18800/19000.
On the lower side major support is around 18700 and break below targets 18500/18180.

It is good to sell on rallies around 18750-800 with SL around 19000 for the TP of 18090

ASX200:

ASX200 has made a temporary high of 5358 and declining form that level. It is currently trading around 5285.
Short term trend is still weak as long as resistance 5360 holds.
On the lower side minor support is around 5265 and break below targets 5230/5190 level.
Major weakness can be seen only below 5190 level.

It is good to buy at dips around 5240-50 with SL around 5190 for the TP of 5335/5375

Kospi :

Kospi has broken major support 1950 and a decline till 1920/1900 is possible . The index is currently trading at 1931
Short term trend is still bearish as long as resistance 2010 holds. On the higher side minor resistance is around 1980 and break above targets 2010/2026/2040 in short term.
The major support is around 1920 and below that level will take the index to next level 1900/1868.

It is good to sell on rallies around 1955-60 with SL around 1980 for the TP of 1920/1900.

Editor's Picks

Breathing through your nose when you exercise may make your runs easier

Entrepreneurs are facing a mental health crisis — here's how to help them

Are fish oil supplements as healthy as we think? And is eating fish better?

Will AI kill our creativity? It could – if we don’t start to value and protect the traits that make us human

Does AI have a right to free speech? Only if it supports our right to free thought

How can I lower my cholesterol? Do supplements work? How about psyllium or probiotics?

Why we need to set limits on sperm donation

Aging with a healthy brain: How lifestyle changes could help prevent up to 40% of dementia cases

Seven techniques to avoid weight regain, approved by experts