Global Weekly Technical (Week 25-29 Apr, 16)

Standard & Poor 500


Points of interest:

  1. Resistance zone: 2,115-2,130
  2. Support level: 2,077
  3. Broke resistance level, but it may face strong immediate resistance zone as the index failed to breaks above at least 5 times.
  4. RSI rising in tandem with index.
  5. Projection: The index may retrace to the supporting level as momentum remains weak.

Kuala Lumpur Composite Index


Points of interest:

  1. Resistance zone: 1,727-1,748
  2. Support zone: 1,689-1,701
  3. Divergence seemed between the movement of index and RSI.
  4. Projection: KLCI expects to trade in range-bound pattern as the index is lack of catalysts at the moment.

Hang Seng Index


Points of interest:

  1. Resistance level: 22,338
  2. Support level: 20,586
  3. Well above MA50 & supporting level.
  4. RSI stayed strong at reading just below 70.
  5. Projection: Medium term bullishness still intact as the index is steadily climbing towards resistance.

Nikkei 225


Points of interest:

  1. Resistance range: 18,018-18,423
  2. Support level: 16,910
  3. Bullish breakout may offer the index further upside.
  4. RSI is ticking higher, the index is travelling further from MA50.
  5. Projection: The index bullish mode may continue towards its MA200, which rests within the immediate resistance zone.

Deutscher Aktienindex


Points of interest:

  1. Resistance level: 10,733
  2. Support zone: 10,191-10,332
  3. Bullish breakout from the resistance zone, RSI surged to 6-months high.
  4. Projection: Bullishness of the index may continue is RSI continue to strengthen, but softness is seemed on last Friday close.

Gold Futures


Points of interest:

  1. Resistance level: 1,253
  2. Support level: 1,229
  3. Failed to break above its resistance level, back to immediate support level.
  4. Projection: Moving forward, gold will be trading in narrower band between support and resistance level. Any break below or above the range will invite the next significant move.

Crude Oil

Crude Oil

Points of interest:

  1. Resistance zone: 43.57-45.60
  2. Support zone: 40.37-41.86
  3. Broke its prominent MA200 line, RSI indicates further bullishness.
  4. Projection: Significant breakout from MA200 will invite stronger bullish mode.



Points of interest:

  1. Resistance level: 3.9601
  2. Support level: 3.8691
  3. Bounced back from supporting level, testing to break MA20 before moving towards the next resistance level.
  4. Projection: The trend still remain subdued, as the currency hardly break its MA20.

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


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