Major Asian Indices Technicals

Monday, January 18, 2016 2:55 AM UTC

Hang Seng:

Hang Seng has broken major support 19400 and declined till is currently trading around term term trend is weak as long as resistance 20300 holds.
The index resistance is at 20300 and any indicative break above that level will take the pair to next level 20650/20870/21000 level. Short term bearish invalidation only above minor resistance is around 19520/19870.
On the lower side minor support is around 19000 and any break below will drag the index till down till 18650.

It is good to sell on rallies around 19700-750 with SL around 20000 for the TP of 19425/19000

Nikkei

Nikkei has recovered till 16953 at the time of writing after making a low of 16568. It is currently trading around 16815.
The index is facing support around 16500 and any break below targets 16000 .
On the higher side minor resistance is around 17000 and break above targets 17300/17500.

It is good to sell on rallies around 17300 with SL around 17500 for the TP of 17000/16500.

ASX200:

ASX200 has recovered till 4863 at the time of writing after making a low of 4754. It is trading around 4842.
Short term trend is still weak as long as resistance 5000 holds.
On the lower side minor support is around 4750 and breaks below targets 4598 level.
Any break above 5000 will take the pair to new level 5050/5080/5130.

It is good to sell rallies around 4950 with SL around 5000 for the TP 4850/4755

Kospi :

Kospi has recovered after making a low of 1852 at the time of writing . The index is currently trading at 1873.
Short term trend is still bearish as long as resistance 1920 holds. On the higher side minor resistance is around 1880 and break above targets 1900/1920 in short term.
The major support is around 1850 and below that level will take the index to next level 1835/1800.

It is good to sell on rallies around 1900 with SL around 1940 for the TP of 1868/1850.

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