Global Weekly Technical (Week 18-22 Apr, 16)

Standard & Poor 500


Points of interest:

  1. Resistance: 2,080
  2. Support zone: 1,979-2,021
  3. Doji formed in 14-Apr, followed by mildly bearish candlestick signalling retracement as shown in previous pattern highlighted during 23-Jun, 15, 20-Jul, 15, 17-Sept, 15 and 01-Feb, 16.
  4. RSI divergence is formed as strong rally since Feb-16 fails to excite RSI.
  5. Projection: The index may possibly retrace from current level in this week.


Kuala Lumpur Composite Index


Points of interest:

  1. Resistance zone: 1,727-1,748
  2. Support zone: 1,689-1,701
  3. The index bullish mode likely to set calm as records shown bullish crossover between MA20 & MA50 would last for approximately 2 months for each.
  4. Projection: KLCI likely to experience range bound between the resistance and support zone before heading the to next level.


Hang Seng Index


Points of interest:

  1. Resistance level: 22,132
  2. Support level: 20,642
  3. Worrying signal formed as the stock gapped up in 14-Apr and retraced immediately on the next day, expect the gap to be filled up soon.
  4. Bullishness brought by MA20 cross above against MA50 will likely to cease amid peaking RSI.
  5. Projection: Retracement of HSI is likely over this week amid of weak technical indicators abound the index.


Nikkei 225


Points of interest:

  1. Resistance range: 16,803-16,958
  2. Support level: 15,815
  3. Red flag over the formation of double gaps in two consecutive trading days, later gap is already filled up in 18-Apr, the former one is likely to be filled up soonest.
  4. The index is way below 200-days moving average, signalling the index may still under bearish mode for certain time.
  5. Projection: The index may head downward as resistance is found, while the double gaps formed may not be encouraging as well.


Deutscher Aktienindex


Points of interest:

  1. Resistance zone: 10,197-10,326
  2. Support zone: 9,353-9,532
  3. Room for medium term uptrend is limited as the index may face immediate resistance level moving forward.
  4. Projection: Strong resistance can be found around 10,200 which can stop DAX from further upside, RSI started to retrace as well.


Gold Futures – 15 mins


Points of interest:

  1. Resistance level: 1,239
  2. Support level: 1,231
  3. 50-days moving average formed immediate support for the futures.
  4. RSI is well supported along with the futures.

Gold – 1 Day

GOLD - 1 Day

Points of interest:

  1. Resistance level: 1,257
  2. Support level: 1,224-1,231
  3. Clearly, RSI is diverging again the futures trend, which may induce profit taking.
  4. Projection: Gold may experience consolidation within the support & resistance level, it needs to break above the resistance level to head further north.


Crude Oil


Points of interest:

  1. Resistance zone: 40.25-41.82
  2. Support level 1: 38.05
  3. Support zone 2: 33.91-35.67
  4. Projection: Pressure mounts on resistance zone, which may limit the index further upside; however, short term bullish trend may continue in a narrower range.




Points of interest:

  1. Resistance level: 3.9786
  2. Support level: 3.8691
  3. The currency is waiting for further catalyst to propel it to the resistance level, RSI is showing sign of bullishness.
  4. Projection: Testing 20-days moving average, if manage to break this level will generate rebound interest for the currency.


Disclaimer: Recommendation solely based on reliable sources and updates. It neither represents the interest nor the standpoints of any parties.




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