News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Technical Forecast for Hang Seng Index, Taiwan Index

Technical Forecast for Hang Seng Index, Taiwan Index

Renee Mu, Currency Analyst

HANG SENG INDEX & TAIWAN INDEX - TALKING POINTS:

  • Hang Seng Index eyes on a key support at 25,000 in the following days.
  • Taiwan Index could head lower towards 343.8 and then 324.6.
  • Find out the most updated long-term analysis of equity prices here.

Hang Seng Index 1-day

Technical Forecast for Hang Seng Index, Taiwan Index

Last week, Hang Seng Index (HSI) tested and failed to break above a long-term resistance level of 25,881, 50% retracement of the 2016-2018 rise. It extended losses further and set a 17-month low of 24,589 on Friday.

The key question in the following few days will be whether the index can hold at the 25,000 level or at least within the channel that it has held since June. On Monday, HSI found some support at 25,000, where the lower band of a parallel converges on a psychological level.

Technical Forecast for HSI: Neutral

Taiwan Index 1-day

Technical Forecast for Hang Seng Index, Taiwan Index

Last week, Taiwan Index (TWI) dropped below a long-term resistance level of 362.5, 38.2% retracement of the 2015-2018 rise. The index has been heading lower since it broke below the range of 380-420 that started in June; a re-test at 378.2 added further evidence of the bearish momentum.

Looking forward, the next targets will be 343.8, the 50% retracement level, and 324.6, the 61.8% retracement level; 324.6 is also the 100% extension of the October decline, which makes the level even more significant.

Technical Forecast for TWI: Bearish

-- Written by Renee Mu, Currency Analyst with DailyFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES