Hong Kong 50 Index – Continuation Chart Pattern – Falling Wedge
Emerging Falling Wedge pattern in its final wave was identified on the Hong Kong 50 Index 4 hour chart. After a strong bearish run, we find Hong Kong 50 Index heading towards the upper triangle line with a possible resistance at 15930.0225. If the support shows to hold, the Falling Wedge pattern suggests a rebound […]
Resistance line breached by Australia 200 Index
Australia 200 Index has broken through the resistance line which it has tested twice in the past. We have seen it retrace from this line before, so one should wait for confirmation of the breakout before trading. If this new trend persists, a target level of around 7718.5875 may materialize within the next 14 hours.
Australia 200 Index was on its way down
Australia 200 Index hits 7595.41 after a 2.28% move spanning 15 hours.
Possible breach of support level by Australia 200 Index
Emerging Falling Wedge detected on Australia 200 Index – the pattern is an emerging one and has not yet broken through resistance, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 7725.3 and it is expected to move to 7698.6472.
Huge movement on FTSE China A50 Index, did you miss it?
FTSE China A50 Index has experienced an exceptionally large movement lower by 1.5% from 12013.99 to 11833.99 in the last 20 hours.
Possibility of big movement expected on Australia 200 Index
The breakout of Australia 200 Index through the resistance line of a Falling Wedge could be a sign of the road ahead. If this breakout persists, we may see the price of Australia 200 Index testing 7805.1709 within the next 2 days.
Hong Kong 50 Index – Continuation Chart Pattern – Channel Up
Hong Kong 50 Index is approaching the support line of a Channel Up. It has touched this line numerous times in the last 16 days. If it tests this line again, it should do so in the next 22 hours.
Australia 200 Index breakout through support
Australia 200 Index has broken through a support line. It has touched this line numerous times in the last 8 days. This breakout shows a potential move to 7741.7290 within the next 2 days. Because we have seen it retrace from this level in the past, one should wait for confirmation of the breakout.
Continuation pattern on Australia 200 Index
This trade setup on Australia 200 Index is formed by a period of consolidation; a period in which the price primarily moves sideways before choosing a new direction for the longer term. Because of the bullish breakout through resistance, it seems to suggest that we could see the next price move to 7874.8431.
Hong Kong 50 Index – getting close to resistance of a Rising Wedge
Hong Kong 50 Index is approaching the resistance line of a Rising Wedge. It has touched this line numerous times in the last 20 days. If it tests this line again, it should do so in the next 2 days.