Asian Indices Rise, KOSPI Composite Leads Gains
Shanghai Composite Technical Analysis
The Shanghai Composite Index is currently priced at 3916.23, showing a modest increase of 0.1% today. The index is exhibiting a bullish trend as evidenced by its position relative to its moving averages: it is above the 20-day (3867.06), 50-day (3791.77), and 200-day (3468.99) moving averages. This suggests a strong upward momentum over the short, medium, and long term.
The Bollinger Bands indicate that the index is trading near the upper band (3929.86), which typically signals that the market is relatively high compared to recent price action. The proximity to the upper band, combined with a Relative Strength Index (RSI) of 60.95, suggests that the market is approaching overbought territory but is not there yet.
The Moving Average Convergence Divergence (MACD) at 31.25 with a signal line at 31.15 indicates a bullish momentum as the MACD line is just above the signal line, suggesting a potential continuation of the upward trend.
The index is also near its 52-week and year-to-date highs (3936.58), indicating strong bullish sentiment throughout the year. The percentage difference from the 52-week low (29.79%) and the year-to-date low (28.79%) further underscores the significant recovery and upward movement this year.
The Average True Range (ATR) of 49.24 points to a moderate level of volatility. The proximity of the current price to the 3-day high (3931.05) and low (3851.12) suggests a recent tightening of the price range, which could precede a significant price move.
Overall, the Shanghai Composite Index shows strong bullish signals across several indicators, though traders should watch for potential overbought conditions if the RSI continues to climb or if prices push significantly beyond the upper Bollinger Band.
Technical Metrics
| Metric | Value |
|---|---|
| Current Price | 3916.23 |
| Today’s Change (%) | 0.10 |
| 20-day MA | 3867.06 |
| % from 20-day MA | 1.27 |
| 50-day MA | 3791.77 |
| % from 50-day MA | 3.28 |
| 200-day MA | 3468.99 |
| % from 200-day MA | 12.89 |
| Bollinger Upper | 3929.86 |
| % from BB Upper | -0.35 |
| Bollinger Lower | 3804.27 |
| % from BB Lower | 2.94 |
| RSI (14) | 60.95 |
| MACD | 31.25 |
| MACD Signal | 31.15 |
| 3-day High | 3931.05 |
| % from 3-day High | -0.38 |
| 3-day Low | 3851.12 |
| % from 3-day Low | 1.69 |
| 52-week High | 3936.58 |
| % from 52-week High | -0.52 |
| 52-week Low | 3017.45 |
| % from 52-week Low | 29.79 |
| YTD High | 3936.58 |
| % from YTD High | -0.52 |
| YTD Low | 3040.69 |
| % from YTD Low | 28.79 |
| ATR (14) | 49.24 |
The technical outlook for the Shanghai Composite Index suggests a generally bullish trend, as indicated by its current price of 3916.23, which is above all key moving averages (MA20, MA50, MA200). This positioning above the moving averages highlights a positive momentum over short, medium, and long-term periods. The index is trading near the upper Bollinger Band, with a slight -0.35% difference from the upper band and a 2.94% difference from the lower band, suggesting limited upside potential in the immediate term but overall stability.
The Relative Strength Index (RSI) at 60.95 indicates neither overbought nor oversold conditions, supporting a continuation of the current trend without immediate reversal signals. The MACD value at 31.25, almost equal to its signal line, shows a balanced market sentiment without strong momentum in either direction.
Volatility, measured by the Average True Range (ATR) at 49.24, points to moderate price fluctuations, which is typical for a large index.
Key resistance can be seen near the recent 52-week high at 3936.58, while support might be found around the 20-day moving average at 3867.06. The proximity to these levels suggests cautious optimism among investors, with potential for slight adjustments as the market seeks further direction. Overall, the market sentiment appears cautiously positive, with a watchful eye on upcoming trading sessions for clearer directional cues.
Hang Seng Technical Analysis
The Hang Seng Index is currently priced at 25,888.51, experiencing a slight decrease of 0.09% today. The index shows a mixed position relative to its moving averages: it is below the 20-day moving average (MA20) of 26,474.98 by approximately 2.22%, and slightly above the 50-day moving average (MA50) of 25,864.77 by 0.09%. It is notably above the 200-day moving average (MA200) by 10.08%, indicating a positive longer-term trend.
The Bollinger Bands present the upper band at 27,396.95 and the lower band at 25,553.02, with the index currently closer to the lower band. This proximity suggests limited downward price movement potential before encountering support.
The Relative Strength Index (RSI) at 45.37 indicates neither overbought nor oversold conditions, suggesting a relatively balanced market sentiment. However, the Moving Average Convergence Divergence (MACD) at 18.94, significantly below its signal line at 184.08, indicates bearish momentum, which could suggest a potential downward trend.
The index’s current price is near the 3-day low of 25,331.64 and has decreased by 0.82% from the 3-day high of 26,102.68, showing recent downward pressure. The Average True Range (ATR) of 466.55 points to a moderately high volatility level in recent trading sessions.
Year-to-date, the index has rebounded significantly from its low of 18,671.49 to a high of 27,381.84, showing substantial recovery, although it is currently 5.45% below the year’s high, reflecting some recent retracements.
In summary, the Hang Seng Index exhibits a positive long-term trend but faces short-term bearish signals and moderate volatility. Investors should watch for potential support at the lower Bollinger Band and any changes in the MACD and RSI for indications of momentum shifts.
Technical Metrics
| Metric | Value |
|---|---|
| Current Price | 25888.51 |
| Today’s Change (%) | -0.09 |
| 20-day MA | 26474.98 |
| % from 20-day MA | -2.22 |
| 50-day MA | 25864.77 |
| % from 50-day MA | 0.09 |
| 200-day MA | 23518.84 |
| % from 200-day MA | 10.08 |
| Bollinger Upper | 27396.95 |
| % from BB Upper | -5.51 |
| Bollinger Lower | 25553.02 |
| % from BB Lower | 1.31 |
| RSI (14) | 45.37 |
| MACD | 18.94 |
| MACD Signal | 184.08 |
| 3-day High | 26102.68 |
| % from 3-day High | -0.82 |
| 3-day Low | 25331.64 |
| % from 3-day Low | 2.20 |
| 52-week High | 27381.84 |
| % from 52-week High | -5.45 |
| 52-week Low | 18671.49 |
| % from 52-week Low | 38.65 |
| YTD High | 27381.84 |
| % from YTD High | -5.45 |
| YTD Low | 18671.49 |
| % from YTD Low | 38.65 |
| ATR (14) | 466.55 |
The Hang Seng Index currently exhibits a mixed technical outlook, with its current price of 25888.51 slightly below the 20-day moving average (MA20) of 26474.98 and just above the 50-day moving average (MA50) of 25864.77. This positioning indicates a potential consolidation phase, as the price is hovering near the MA50, providing immediate support.
The Bollinger Bands show the index near the lower band (25553.02), suggesting that the market might be in an oversold territory. However, the Relative Strength Index (RSI) at 45.37 does not fully confirm this, as it is near the neutral 50 level, indicating neither overbought nor oversold conditions.
The Moving Average Convergence Divergence (MACD) at 18.94, significantly below its signal line at 184.08, suggests bearish momentum, which could mean potential further downside if the trend continues.
The Average True Range (ATR) of 466.55 points to a moderately high level of recent volatility, which could lead to wider price swings.
Potential support and resistance levels are identified at the recent three-day low of 25331.64 and the three-day high of 26102.68, respectively. The proximity to the 52-week low compared to the 52-week high suggests that there might be more upside potential if the index can sustain a move above the MA50.
Overall, market sentiment appears cautious, with the index needing to establish a clear direction above the MA50 or risk further declines towards the lower Bollinger Band or the recent support levels. Investors should watch for a potential breakout or breakdown from these levels to gauge the next significant move.
Nikkei 225 Technical Analysis
The Nikkei 225 index is currently priced at 48,277.74, reflecting a daily increase of 1.27%. This performance is part of a broader bullish trend, as indicated by the index’s position relative to its moving averages: it stands above the 20-day (46,285.23), 50-day (44,158.46), and 200-day (39,579.42) moving averages. These figures suggest a strong upward momentum over short, medium, and long-term periods.
The Bollinger Bands provide additional insights, with the index trading close to the upper band (49,033.4), which is typically considered a signal of high price levels relative to recent volatility. The middle band aligns with the 20-day moving average, reinforcing the current bullish sentiment.
The Relative Strength Index (RSI) at 66.81 is nearing the overbought threshold of 70, which might indicate potential for a pullback or consolidation if the index continues to rise and crosses this threshold. However, the current level also underscores strong buying momentum.
The Moving Average Convergence Divergence (MACD) stands at 1170.02, above its signal line at 1081.96, indicating bullish momentum. The positive divergence between the MACD and its signal line supports the continuation of the upward trend.
The index is trading just below its 52-week and year-to-date high of 48,597.08, suggesting a testing of resistance levels. The Average True Range (ATR) of 758.04 points to significant daily volatility, which could mean substantial price movements are still possible.
In summary, the Nikkei 225 is exhibiting strong bullish signals across several indicators, though the proximity to the overbought RSI territory and the upper Bollinger Band may suggest a near-term consolidation or pullback. Investors should watch for potential MACD and RSI signals for early signs of trend reversals or continuations.
Technical Metrics
| Metric | Value |
|---|---|
| Current Price | 48277.74 |
| Today’s Change (%) | 1.27 |
| 20-day MA | 46285.23 |
| % from 20-day MA | 4.30 |
| 50-day MA | 44158.46 |
| % from 50-day MA | 9.33 |
| 200-day MA | 39579.42 |
| % from 200-day MA | 21.98 |
| Bollinger Upper | 49033.40 |
| % from BB Upper | -1.54 |
| Bollinger Lower | 43537.06 |
| % from BB Lower | 10.89 |
| RSI (14) | 66.81 |
| MACD | 1170.02 |
| MACD Signal | 1081.96 |
| 3-day High | 48317.34 |
| % from 3-day High | -0.08 |
| 3-day Low | 46544.05 |
| % from 3-day Low | 3.72 |
| 52-week High | 48597.08 |
| % from 52-week High | -0.66 |
| 52-week Low | 30792.74 |
| % from 52-week Low | 56.78 |
| YTD High | 48597.08 |
| % from YTD High | -0.66 |
| YTD Low | 30792.74 |
| % from YTD Low | 56.78 |
| ATR (14) | 758.04 |
The technical outlook for the Nikkei 225 index suggests a bullish trend, as indicated by its current price of 48,277.74, which is well above its 20-day, 50-day, and 200-day moving averages. The index is trading close to its 52-week and year-to-date highs, reflecting strong upward momentum. The Bollinger Bands show the index hovering near the upper band, suggesting that it might be approaching overbought territory, although it is not significantly extended beyond this level.
The Relative Strength Index (RSI) at 66.81 is high but still below the typical overbought threshold of 70, supporting the view of continued strength without immediate reversal signals. The MACD is above its signal line and positive, further confirming the bullish momentum.
Volatility, as measured by the Average True Range (ATR), is relatively high, indicating that price movements could be significant, which is typical in a robust market phase.
Immediate support and resistance levels can be identified around the recent three-day low of 46,544.05 and the three-day high of 48,317.34, respectively. A break beyond these levels could indicate further directional movement. The overall market sentiment appears positive, and the technical indicators suggest that the bullish trend may persist, although traders should watch for any signs of reversal or consolidation given the proximity to historical highs.
KOSPI Composite Technical Analysis
The KOSPI Composite index is currently exhibiting strong bullish signals, as evidenced by its current price of 3748.37, which is a new 52-week and year-to-date high. This represents a significant uptrend with a 2.49% increase today alone.
Analyzing the moving averages, the index is well above its 20-day (3494.0), 50-day (3316.91), and 200-day (2842.16) moving averages, indicating a robust long-term bullish trend. The percentage differences from these averages (7.28% from MA20, 13.01% from MA50, and 31.88% from MA200) further underscore the strength of the current upward momentum.
The Bollinger Bands reveal that the index is trading above the upper band (3680.28), suggesting that the market might be in an overbought territory. This is supported by the Relative Strength Index (RSI) of 77.04, which is above the typical overbought threshold of 70, indicating potential for a pullback or consolidation in the near term.
The Moving Average Convergence Divergence (MACD) at 97.33, with a signal line at 78.74, shows a bullish crossover, reinforcing the strong upward trend. However, traders should be cautious as the high MACD also points to possible overextension.
The index’s Average True Range (ATR) of 60.68 reflects high volatility, which is consistent with the significant movements and new highs being set.
Given these indicators, while the long-term trend appears strongly bullish, the current overbought conditions suggest that there might be a short-term retracement or sideways movement as the market digests its recent gains. Investors should watch for any potential MACD bearish crossovers or RSI declines below 70 as signals that the current momentum might be waning.
Technical Metrics
| Metric | Value |
|---|---|
| Current Price | 3748.37 |
| Today’s Change (%) | 2.49 |
| 20-day MA | 3494.00 |
| % from 20-day MA | 7.28 |
| 50-day MA | 3316.91 |
| % from 50-day MA | 13.01 |
| 200-day MA | 2842.16 |
| % from 200-day MA | 31.88 |
| Bollinger Upper | 3680.28 |
| % from BB Upper | 1.85 |
| Bollinger Lower | 3307.72 |
| % from BB Lower | 13.32 |
| RSI (14) | 77.04 |
| MACD | 97.33 |
| MACD Signal | 78.74 |
| 3-day High | 3748.37 |
| % from 3-day High | N/A |
| 3-day Low | 3535.52 |
| % from 3-day Low | 6.02 |
| 52-week High | 3748.37 |
| % from 52-week High | N/A |
| 52-week Low | 2284.72 |
| % from 52-week Low | 64.06 |
| YTD High | 3748.37 |
| % from YTD High | N/A |
| YTD Low | 2284.72 |
| % from YTD Low | 64.06 |
| ATR (14) | 60.68 |
The KOSPI Composite index presents a robust technical outlook as evidenced by its current metrics. The index is trading well above its key moving averages (MA20, MA50, MA200), indicating a strong bullish trend over short, medium, and long-term periods. The current price of 3748.37 is significantly higher than the MA200 by 31.88%, highlighting substantial upward momentum throughout the year.
The index is also positioned above the upper Bollinger Band, suggesting it might be overextended in the short term. This is further supported by the RSI of 77.04, indicating that the market could be entering overbought territory, which might prompt some corrective pullbacks or consolidation in the near future.
MACD values show a positive divergence above the signal line, reinforcing the current bullish sentiment. However, investors should monitor these indicators closely for signs of potential reversals as the market digests its gains.
The Average True Range (ATR) of 60.68 points to moderate volatility, which is consistent with the significant price movements and new highs being set. The recent setting of a 52-week and year-to-date high at 3748.37 underscores the strong upward trajectory but also marks it as a potential resistance level. Immediate support might be found around the upper Bollinger Band at 3680.28 or further down at the MA20 level of 3494.0.
Overall, market sentiment appears strongly positive, but caution is warranted given the overbought conditions and the potential for short-term volatility or pullbacks. Investors should look for stabilization or mild retracements as opportunities, keeping an eye on key support levels to manage risks effectively.
STI Technical Analysis
The STI (Straits Times Index) is currently priced at 4352.27, experiencing a slight decline of 0.37% today. The index is trading just below its 20-day moving average (MA20) of 4355.81, indicating a potential resistance level. The 50-day (MA50) and 200-day (MA200) moving averages are at 4307.57 and 4008.21, respectively, suggesting a longer-term bullish trend as the index remains well above these averages.
The Bollinger Bands show the upper band at 4486.92 and the lower band at 4224.71, with the index currently near the middle band (MA20). This positioning within the bands does not indicate significant volatility, as the index is neither approaching the upper nor the lower extremes.
The Relative Strength Index (RSI) is at 50.14, which is neutral and does not signal overbought or oversold conditions. However, the Moving Average Convergence Divergence (MACD) at 25.46 is currently below its signal line at 31.87, suggesting a bearish momentum which could indicate a potential downward trend in the short term.
The index’s 3-day high and low are 4417.24 and 4341.97, respectively, showing a recent range of movement that is relatively tight. The 52-week and year-to-date (YTD) highs are both at 4474.12, with the index currently trading approximately 2.72% below this peak. The 52-week and YTD lows are at 3372.38, indicating a significant rise over the past year.
The Average True Range (ATR) of 33.88 points to moderate daily volatility. Given the current MACD position and the proximity to the MA20, investors might watch for potential shifts in momentum or further confirmations of trend direction through additional indicators or market developments.
Technical Metrics
| Metric | Value |
|---|---|
| Current Price | 4352.27 |
| Today’s Change (%) | -0.37 |
| 20-day MA | 4355.81 |
| % from 20-day MA | -0.08 |
| 50-day MA | 4307.57 |
| % from 50-day MA | 1.04 |
| 200-day MA | 4008.21 |
| % from 200-day MA | 8.58 |
| Bollinger Upper | 4486.92 |
| % from BB Upper | -3.00 |
| Bollinger Lower | 4224.71 |
| % from BB Lower | 3.02 |
| RSI (14) | 50.14 |
| MACD | 25.46 |
| MACD Signal | 31.87 |
| 3-day High | 4417.24 |
| % from 3-day High | -1.47 |
| 3-day Low | 4341.97 |
| % from 3-day Low | 0.24 |
| 52-week High | 4474.12 |
| % from 52-week High | -2.72 |
| 52-week Low | 3372.38 |
| % from 52-week Low | 29.06 |
| YTD High | 4474.12 |
| % from YTD High | -2.72 |
| YTD Low | 3372.38 |
| % from YTD Low | 29.06 |
| ATR (14) | 33.88 |
The technical outlook for the STI index presents a mixed sentiment with a slight bearish inclination in the short term. Currently, the index is trading slightly below the 20-day moving average (MA20) at 4355.81 but remains above the 50-day (MA50) and 200-day (MA200) moving averages, indicating a generally positive trend in the medium to long term. The proximity to MA20 suggests a potential pivot or resistance area around 4355.81.
The Bollinger Bands show the index trading near the middle band, with a recent move towards the lower band, suggesting a decrease in upward momentum. This is supported by the RSI at 50.14, which indicates a neutral market condition, and the MACD below its signal line, hinting at a potential bearish crossover.
Volatility, as measured by the Average True Range (ATR) of 33.88, remains relatively stable, suggesting no significant increase in market turbulence. The index’s current position between its recent 3-day low and high also supports this stable volatility outlook.
Key support and resistance levels are identified at the recent 3-day low of 4341.97 and the 3-day high of 4417.24, respectively. The proximity to these levels could influence short-term market movements. Overall, investors might remain cautious, with a focus on potential shifts around the moving averages and key price levels that could dictate the market’s direction in the coming sessions.
