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
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Technical Update - Hang Seng, China A50 and Nikkei 225
Equities 3 minutes to read
Kim Cramer Larsson
Technical Analyst, Saxo Bank
Summary: Strong bounce in Hang Seng/HK50 forming bottom and reversal pattern
China A50 trading wide range
Nikkei/JP225 in corrective phase that could turn into bearish trend
Hang Seng Index/HK50 bounced strongly Friday morning from August lows at 17,573 forming a Bullish Engulfing bottom and reversal candle in the process. The move engulfs the previous two trading days.
With RSI divergence a reversal is likely, however short-lived it might be. A reversal that could take Hang Seng to its resistance at around 18,900.
If closing above 18,900 short-term uptrend has been confirmed.
For Hang Seng to resume downtrend a close below 17,573 that would lead to a sell-off down to 17K
China A50 future seems short-term directionless but is in fact trading in a larger range between 12,265 and 13,500. Very short-term the upper band is at around 13,064.
A bullish break is likely to push the A50 future to the 13,500 resistance
A close below 12,265 could fuel a sell-off down to around 11,150 with support at around 11,830
Nikkei 225 future/JP225 cfd seems to be in a corrective phase. Strong resistance at around 33,470.
However, Friday it took out the minor support at 32,170 closing below the Cloud and below the 55 Moving Average indicating a larger correction.
However, the 100 Moving Average is offering some support but if Nikkei225/JP225 is taking out Friday lows a move to strong support at around 31,240 could be seen
However, Friday it took out the minor support at 32,170 closing below the Cloud and below the 55 Moving Average indicating a larger correction.
However, the 100 Moving Average is offering some support but if Nikkei225/JP225 is taking out Friday lows a move to strong support at around 31,240 could be seen
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