Technical Update - Bearish trends confirmed in Hang Seng, China A50 & JP225

Technical Update - Bearish trends confirmed in Hang Seng, China A50 & JP225

Equities 3 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank

Hang Seng Index has closed below support at 18,052 and is set for lower levels towards 17K.
Bearish trend on both daily and weekly chart i.e., short-and medium-term.

There is no strong support until 17,000.

To demolish and place the trend in neutral a close above 18,562 is needed. To reverse to bullish trend a close above 19,500 is needed

hsi d 1808
Source all charts and data: Saxo Group

The HK50 cfd down trend points to a move to support at 17,328 but could spike down to 16,800

A close above 19,495 and HK50 will turn bullish

 

hk50 d 1808

FTSE China A50 future down trend continues and is likely to continue. Minor support at around 12,394 and strong key support at around 12,204.

A close below the latter A50 could be hit with heavy selling down to support at around 11,831

To pause the down trend a close above 12,725 but to reverse it A50 needs to close above 13,064

A50 d 1808

JP225 cfd broke bearish out of its range to the support at 31,351. But there is likely to be further downside in store for JP225. RSI is showing negative sentiment indicating JP225 could slide down to support at around 30,600.

The 100 Moving Average will offer some support but most likely not strong enough to prevent JP225 from dipping lower.

A move back to close above 32,820 will reverse the downtrend
jp225 d 1808

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