Asian Indices Decline with Nikkei 225 Leading Losses
Shanghai Composite Technical Analysis
The Shanghai Composite Index currently stands at 3865.23, marking a decrease of 0.62% today. This places the index slightly above its 20-day moving average (MA20) of 3856.62, suggesting a short-term bullish trend. The index is also well above its 50-day (3779.71) and 200-day (3463.74) moving averages, indicating a strong medium to long-term uptrend.
The Bollinger Bands show the index trading near the middle band (3856.62), with today’s price closer to the upper band at 3919.32. This proximity to the upper band, coupled with a recent high of 3933.0, suggests that the index is testing resistance levels. The lower band at 3793.92 could act as a near-term support.
The Relative Strength Index (RSI) at 54.44 is neutral, indicating neither overbought nor oversold conditions, supporting a stable market sentiment. However, the Moving Average Convergence Divergence (MACD) at 29.03, below its signal line at 31.34, suggests a potential bearish crossover, indicating possible upcoming downward momentum.
The Average True Range (ATR) of 50.27 points to moderate volatility. The index’s proximity to its 52-week and year-to-date highs (3936.58) suggests that it is testing significant resistance levels, with a 1.81% difference from the current price to the 52-week high.
In summary, while the Shanghai Composite shows a strong upward trend over the medium to long term, the proximity to key resistance levels and the bearish signal from the MACD could suggest potential consolidation or a slight pullback in the near term. Investors should watch for movements outside of the Bollinger Bands and changes in the MACD for stronger directional cues.
Technical Metrics
| Metric | Value |
|---|---|
| Current Price | 3865.23 |
| Today’s Change (%) | -0.62 |
| 20-day MA | 3856.62 |
| % from 20-day MA | 0.22 |
| 50-day MA | 3779.71 |
| % from 50-day MA | 2.26 |
| 200-day MA | 3463.74 |
| % from 200-day MA | 11.59 |
| Bollinger Upper | 3919.32 |
| % from BB Upper | -1.38 |
| Bollinger Lower | 3793.92 |
| % from BB Lower | 1.88 |
| RSI (14) | 54.44 |
| MACD | 29.03 |
| MACD Signal | 31.34 |
| 3-day High | 3933.00 |
| % from 3-day High | -1.72 |
| 3-day Low | 3800.10 |
| % from 3-day Low | 1.71 |
| 52-week High | 3936.58 |
| % from 52-week High | -1.81 |
| 52-week Low | 2889.01 |
| % from 52-week Low | 33.79 |
| YTD High | 3936.58 |
| % from YTD High | -1.81 |
| YTD Low | 3040.69 |
| % from YTD Low | 27.12 |
| ATR (14) | 50.27 |
The Shanghai Composite Index currently exhibits a moderately bullish technical posture, trading slightly above its 20-day moving average (MA20) at 3865.23, which suggests short-term upward momentum. The index is also well above its 50-day and 200-day moving averages, indicating a positive trend over the medium and long term. The proximity of the current price to the upper Bollinger Band, which is set at 3919.32, points to potential resistance near this level. The lower Bollinger Band at 3793.92 could serve as a near-term support.
The Relative Strength Index (RSI) of 54.44 reflects neither overbought nor oversold conditions, supporting a stable outlook. However, the Moving Average Convergence Divergence (MACD) is slightly below its signal line, suggesting some caution as this could indicate a potential slowdown in momentum.
Volatility, as measured by the Average True Range (ATR) of 50.27, remains moderate, which could mean that any price movements are not expected to be excessively sharp in the near term. The index’s recent performance, with a high of 3933.0 and a low of 3800.1 over the past three days, further underscores this volatility level.
Considering these factors, the market sentiment appears cautiously optimistic. Investors should watch for the index to potentially test the resistance near the recent high of 3936.58, while support might solidify around the 3800 level. The technical indicators suggest a continuation of the current trend with careful monitoring of the MACD and RSI for signs of changes in momentum.
Hang Seng Technical Analysis
The Hang Seng Index is currently trading at 25,441.35, reflecting a decline of 1.73% today. This movement places the index below its 20-day (26,529.28) and 50-day (25,821.51) moving averages, indicating a short-term bearish trend. However, it remains above the 200-day moving average of 23,457.21, suggesting a longer-term bullish trend.
The Bollinger Bands show the index near the lower band (25,688.95), which typically indicates an oversold condition that might attract buying interest. However, the wide gap between the upper (27,369.62) and lower bands indicates high volatility.
The Relative Strength Index (RSI) at 38.24 suggests that the index is nearing oversold territory, which could potentially lead to a rebound if buyers step in. However, the Moving Average Convergence Divergence (MACD) at 99.15, significantly below its signal line at 267.83, indicates strong bearish momentum. This divergence from the signal line could suggest further declines unless a crossover occurs.
The index’s current price is near the 3-day low of 25,331.64 and significantly below the 3-day high of 26,558.87, reinforcing the current bearish sentiment. The index has also declined by 7.09% from the 52-week and YTD high of 27,381.84, yet it remains 36.26% above the 52-week and YTD low of 18,671.49.
The Average True Range (ATR) of 468.38 points to high volatility, which could mean larger price swings are possible in the near term.
In summary, the Hang Seng Index shows bearish signals in the short term with potential for further declines, given the MACD and position relative to its moving averages and Bollinger Bands. However, the proximity to the lower Bollinger Band and an RSI nearing oversold levels could attract buying interest, potentially stabilizing or reversing the downward trend. Investors should watch for a MACD crossover or a sustained move above the 50-day moving average as potential signals for a change in trend.
Technical Metrics
| Metric | Value |
|---|---|
| Current Price | 25441.35 |
| Today’s Change (%) | -1.73 |
| 20-day MA | 26529.28 |
| % from 20-day MA | -4.10 |
| 50-day MA | 25821.51 |
| % from 50-day MA | -1.47 |
| 200-day MA | 23457.21 |
| % from 200-day MA | 8.46 |
| Bollinger Upper | 27369.62 |
| % from BB Upper | -7.05 |
| Bollinger Lower | 25688.95 |
| % from BB Lower | -0.96 |
| RSI (14) | 38.24 |
| MACD | 99.15 |
| MACD Signal | 267.83 |
| 3-day High | 26558.87 |
| % from 3-day High | -4.21 |
| 3-day Low | 25331.64 |
| % from 3-day Low | 0.43 |
| 52-week High | 27381.84 |
| % from 52-week High | -7.09 |
| 52-week Low | 18671.49 |
| % from 52-week Low | 36.26 |
| YTD High | 27381.84 |
| % from YTD High | -7.09 |
| YTD Low | 18671.49 |
| % from YTD Low | 36.26 |
| ATR (14) | 468.38 |
The Hang Seng Index is currently demonstrating a bearish trend, as evidenced by its position relative to key moving averages and Bollinger Bands. The index’s current price of 25,441.35 is below the 20-day (26,529.28) and 50-day (25,821.51) moving averages, indicating a short-term downward momentum. However, it remains above the 200-day moving average (23,457.21), suggesting some resilience in a longer-term perspective.
The Bollinger Bands show the index trading near the lower band (25,688.95), which typically signals oversold conditions. This is further supported by the Relative Strength Index (RSI) of 38.24, indicating that the index might be approaching an oversold territory. However, the Moving Average Convergence Divergence (MACD) at 99.15, significantly below its signal line (267.83), suggests continuing bearish momentum.
The Average True Range (ATR) of 468.38 points to high volatility, which could mean potential for significant price movements. Immediate support and resistance levels are observed at the recent three-day low (25,331.64) and high (26,558.87), respectively.
Given these indicators, market sentiment appears cautious, with potential for a rebound if the index stabilizes and returns towards the middle or upper Bollinger Band. Investors should watch for any signs of reversal in the MACD or an uptick in the RSI as indicators of changing momentum.
Nikkei 225 Technical Analysis
The Nikkei 225 index is currently priced at 46,847.32, experiencing a decline of 2.58% today. The index’s performance has been robust as indicated by its position above all key moving averages: 20-day (45,971.23), 50-day (43,876.84), and 200-day (39,491.9). This positioning suggests a strong bullish trend over the short, medium, and long term.
The Bollinger Bands show the current price nearing the lower band (43,359.36), with the upper band at 48,583.1. This proximity to the lower band could indicate a potential buying opportunity if the price is perceived as relatively low. However, the index’s recent peak near the upper band and subsequent pullback suggests volatility.
The Relative Strength Index (RSI) at 59.62 is below the overbought threshold of 70, indicating that there is still room for upward price movement before the index becomes overextended. The Moving Average Convergence Divergence (MACD) is above its signal line (1,158.65 vs. 1,038.61), supporting the continuation of the current bullish trend.
The index’s recent performance shows a high near the 52-week and YTD high of 48,597.08, indicating strong yearly performance but also highlighting a recent pullback from these highs. The Average True Range (ATR) of 754.39 points to significant daily volatility, which traders should consider when planning entry and exit points.
In summary, the Nikkei 225 demonstrates strong upward momentum as evidenced by its position relative to moving averages and MACD indicators. However, the proximity to the lower Bollinger Band and the recent pullback from the 52-week high suggest that investors should watch for potential volatility and consolidation before making further bullish commitments.
Technical Metrics
| Metric | Value |
|---|---|
| Current Price | 46847.32 |
| Today’s Change (%) | -2.58 |
| 20-day MA | 45971.23 |
| % from 20-day MA | 1.91 |
| 50-day MA | 43876.84 |
| % from 50-day MA | 6.77 |
| 200-day MA | 39491.90 |
| % from 200-day MA | 18.63 |
| Bollinger Upper | 48583.10 |
| % from BB Upper | -3.57 |
| Bollinger Lower | 43359.36 |
| % from BB Lower | 8.04 |
| RSI (14) | 59.62 |
| MACD | 1158.65 |
| MACD Signal | 1038.61 |
| 3-day High | 48597.08 |
| % from 3-day High | -3.60 |
| 3-day Low | 46544.05 |
| % from 3-day Low | 0.65 |
| 52-week High | 48597.08 |
| % from 52-week High | -3.60 |
| 52-week Low | 30792.74 |
| % from 52-week Low | 52.14 |
| YTD High | 48597.08 |
| % from YTD High | -3.60 |
| YTD Low | 30792.74 |
| % from YTD Low | 52.14 |
| ATR (14) | 754.39 |
The technical outlook for the Nikkei 225 index shows a generally bullish trend, as indicated by its current price of 46,847.32, which is well above its key moving averages (MA20 at 45,971.23, MA50 at 43,876.84, and MA200 at 39,491.9). This positioning above the moving averages suggests sustained upward momentum over short, medium, and long-term periods.
The index is currently trading near the upper range of its Bollinger Bands, with the upper band at 48,583.1 and the middle band (also the MA20) at 45,971.23. Although recently retreating from the upper Bollinger Band and the 52-week high of 48,597.08, the index remains in a strong position within this volatility indicator.
The Relative Strength Index (RSI) at 59.62 indicates neither overbought nor oversold conditions, supporting a stable outlook. The MACD value of 1,158.65, above its signal line at 1,038.61, further confirms bullish momentum.
Volatility, as measured by the Average True Range (ATR) of 754.39, suggests significant daily price movements, which could mean potential for both opportunity and risk.
Key support and resistance levels to watch are the recent 3-day low at 46,544.05 and the 52-week high at 48,597.08, respectively. The index’s performance above its moving averages and near the upper Bollinger Band, combined with positive MACD and stable RSI, points to continued bullish sentiment in the market, albeit with caution near historical highs.
KOSPI Composite Technical Analysis
The KOSPI Composite Index currently stands at 3561.81, reflecting a slight decline of 0.63% today. This movement places the index below its recent 3-day high of 3646.77 but still significantly above its 200-day moving average (MA200) of 2830.01, indicating a strong long-term upward trend.
The index’s moving averages show a bullish pattern, with the 20-day moving average (MA20) at 3456.65 and the 50-day moving average (MA50) at 3298.49, both well below the current price. This suggests that the index has been maintaining a robust upward momentum in the short to medium term.
Bollinger Bands provide further insights, with the current price nearing the upper band at 3604.23, which often acts as a resistance level. The proximity to the upper band, combined with a Relative Strength Index (RSI) of 66.88, indicates that the market is approaching overbought territory, although it is not there yet.
The Moving Average Convergence Divergence (MACD) at 78.71 with a signal of 71.22 shows a positive momentum as the MACD line is above the signal line, suggesting continued bullish behavior in the near term.
The Average True Range (ATR) stands at 55.28, pointing to a relatively high level of volatility, which is consistent with the wide price fluctuations within the year, from a low of 2284.72 to a high of 3646.77.
In summary, the KOSPI Composite Index exhibits a strong bullish trend with potential resistance near the upper Bollinger Band. Investors should watch for any signs of reversal, especially if the RSI moves into the overbought zone or if there is a bearish MACD crossover. The current levels near the 52-week high also suggest caution as the index may face selling pressure or profit-taking activities.
Technical Metrics
| Metric | Value |
|---|---|
| Current Price | 3561.81 |
| Today’s Change (%) | -0.63 |
| 20-day MA | 3456.65 |
| % from 20-day MA | 3.04 |
| 50-day MA | 3298.49 |
| % from 50-day MA | 7.98 |
| 200-day MA | 2830.01 |
| % from 200-day MA | 25.86 |
| Bollinger Upper | 3604.23 |
| % from BB Upper | -1.18 |
| Bollinger Lower | 3309.08 |
| % from BB Lower | 7.64 |
| RSI (14) | 66.88 |
| MACD | 78.71 |
| MACD Signal | 71.22 |
| 3-day High | 3646.77 |
| % from 3-day High | -2.33 |
| 3-day Low | 3522.54 |
| % from 3-day Low | 1.11 |
| 52-week High | 3646.77 |
| % from 52-week High | -2.33 |
| 52-week Low | 2284.72 |
| % from 52-week Low | 55.90 |
| YTD High | 3646.77 |
| % from YTD High | -2.33 |
| YTD Low | 2284.72 |
| % from YTD Low | 55.90 |
| ATR (14) | 55.28 |
The technical outlook for the KOSPI Composite index suggests a generally bullish trend, as evidenced by its current price of 3561.81, which is well above its 20-day, 50-day, and 200-day moving averages (MA20 at 3456.65, MA50 at 3298.49, MA200 at 2830.01). This indicates sustained upward momentum over short, medium, and long-term periods.
The index is trading near the upper Bollinger Band (3604.23), suggesting that it is approaching overbought territory, although it has not breached this level. The Relative Strength Index (RSI) at 66.88 supports this, being near the upper threshold of 70, which often signals overbought conditions. The Moving Average Convergence Divergence (MACD) at 78.71, above its signal line at 71.22, further confirms the bullish momentum.
Volatility, as measured by the Average True Range (ATR), stands at 55.28, indicating moderate price fluctuations. The index’s proximity to its 52-week and year-to-date highs (3646.77) suggests potential resistance near these levels. Conversely, recent lows provide immediate support around 3522.54.
Overall, market sentiment appears positive, but investors should watch for potential pullbacks or consolidations, especially if the index reaches or surpasses its recent highs, which could trigger profit-taking.
STI Technical Analysis
The STI (Straits Times Index) is currently priced at 4357.42, experiencing a minor daily decline of 0.74%. The index is slightly above its 20-day moving average (MA20) of 4351.74, indicating a short-term bullish sentiment. However, the proximity to the MA20 suggests a potential consolidation phase. The 50-day and 200-day moving averages (4302.94 and 4002.54, respectively) are well below the current price, confirming a longer-term upward trend.
The Bollinger Bands show the upper band at 4484.66 and the lower band at 4218.83, with the current price near the middle band. This positioning within the bands, coupled with a relatively narrow band width, suggests low volatility. The index’s recent price is closer to the upper band, hinting at a potential resistance near the 4484.66 level.
The Relative Strength Index (RSI) at 51.29 indicates a neutral market condition, neither overbought nor oversold. The Moving Average Convergence Divergence (MACD) at 34.44 with a signal line at 34.32 suggests a marginal bullish momentum as the MACD is just above its signal line.
The index’s 3-day high and low are 4442.56 and 4346.01, respectively, showing recent trading within a tight range. The 52-week and year-to-date (YTD) metrics reveal a significant recovery from the lows, with the current price substantially higher than the 52-week and YTD lows (3372.38), indicating strong annual gains.
The Average True Range (ATR) at 35.04 points to moderate daily price movement, aligning with the observed Bollinger Band width to suggest a continuation of current market conditions without excessive volatility.
In summary, the STI shows a stable upward trend with potential resistance near the upper Bollinger Band. The close alignment of the MACD above its signal line and prices above key moving averages support a cautiously optimistic outlook, though the proximity to significant highs could limit short-term gains. Investors should watch for any significant deviations from these trends for trading cues.
Technical Metrics
| Metric | Value |
|---|---|
| Current Price | 4357.42 |
| Today’s Change (%) | -0.74 |
| 20-day MA | 4351.74 |
| % from 20-day MA | 0.13 |
| 50-day MA | 4302.94 |
| % from 50-day MA | 1.27 |
| 200-day MA | 4002.54 |
| % from 200-day MA | 8.87 |
| Bollinger Upper | 4484.66 |
| % from BB Upper | -2.84 |
| Bollinger Lower | 4218.83 |
| % from BB Lower | 3.29 |
| RSI (14) | 51.29 |
| MACD | 34.44 |
| MACD Signal | 34.32 |
| 3-day High | 4442.56 |
| % from 3-day High | -1.92 |
| 3-day Low | 4346.01 |
| % from 3-day Low | 0.26 |
| 52-week High | 4474.12 |
| % from 52-week High | -2.61 |
| 52-week Low | 3372.38 |
| % from 52-week Low | 29.21 |
| YTD High | 4474.12 |
| % from YTD High | -2.61 |
| YTD Low | 3372.38 |
| % from YTD Low | 29.21 |
| ATR (14) | 35.04 |
The technical outlook for the STI index suggests a cautiously optimistic trend, as it is currently trading slightly above its 20-day moving average (MA20) and well above its 50-day and 200-day moving averages, indicating a positive short-term and long-term trend. The index’s position just below the middle Bollinger Band and near its 20-day moving average suggests a consolidation phase within a broader uptrend.
The Relative Strength Index (RSI) at 51.29 indicates a neutral market momentum, neither overbought nor oversold, while the MACD just above its signal line suggests a mild bullish momentum. These indicators collectively point to a potential continuation of the current trend without strong signals for a reversal.
Volatility, as measured by the Average True Range (ATR), is moderate, which supports the idea of steady market conditions. The proximity to the 52-week high and the significant gain over the 52-week low underline the index’s strong yearly performance.
Key support and resistance levels to watch are the recent 3-day low at 4346.01 and the 3-day high at 4442.56, respectively. A break beyond these levels could indicate a stronger directional move. Overall, market sentiment appears cautiously positive, with the index maintaining a steady position above significant moving averages and moderate volatility.
