NASDAQ 100, HANG SENG, ASX 200 INDEX OUTLOOK:Nasdaq 100 might check its 100-Day Easy Transferring Common (SMA) at 10,740 – a righ
NASDAQ 100, HANG SENG, ASX 200 INDEX OUTLOOK:
- Nasdaq 100 might check its 100-Day Easy Transferring Common (SMA) at 10,740 – a right away help
- Hong Kong’s Dangle Seng Index (HSI) is consolidating, with a key help degree at 24,130
- ASX 200’s pattern stays downward-biased. China Mortgage Prime Charge in focus
Nasdaq 100 Index Outlook:
Nasdaq 100 index futures fluctuated on Monday after falling over 1% on Friday. This may occasionally set a combined tone for Asia-Pacific markets amid a comparatively quiet calendar day. The 2-day closure of the Japanese markets means that liquidity in each fairness and foreign exchange may very well be skinny, rendering in style buying and selling merchandise comparable to USD/JPY and Nikkei 225 index futures vulnerable to massive swings, ought to there be shocking information.
The halting of President Trump’s ban of Chinese language social media apps WeChat and TikTok might present markets with momentary aid, however merchants are scrutinizing the developments on the TikTok-Oracle deal. The geopolitical scenario within the Taiwan Strait can be one other threat merchants are intently watching. Chinese language media company International Instances reported that Beijing is contemplating placing HSBC into its Unreliable Entity Record (UEL) on account of its linkage with Meng Wanzhou’s (Huawei’s CFO) case.
The VIX volatility index drifted decrease previously two weeks, suggesting this could be one other wholesome technical correction in a mid-term bull run. There may very well be extra consolidations forward nevertheless, as a number of technical indicators present.
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Technically,the Nasdaq 100 index has dived under its 50-Day SMA and the 23.6% Fibonacci retracement degree at 11,070 final week. This can be exhibiting that bearish facet is taking management within the close to time period. A direct help degree could also be discovered at 10,740 – the 100-Day SMA. Breaking under 10,740 will probably open the door for additional losses with a watch at 10,220, which additionally marks the 38.2% Fibonacci retracement degree.
Nasdaq 100 Index – Each day Chart
Dangle Seng Index Outlook:
Hong Kong’s Dangle Seng Index (HSI) makes an attempt to search out robust help at 24,130 (38.2% Fibonacci retracement) inside a mid-term downward pattern. The index was weighed by a few headwinds: US fairness market consolidation, rising US-China tensions and a gentle home financial system on account of Covid-19.
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Sector-wise, financials (+0.93%) and commerce & business (+0.31%) have been among the many finest performers on Friday, whereas utilities (-0.60%) and properties (-0.49%) have been lagging.
Dangle Seng Index – Each day Chart
ASX 200 Index Outlook:
Australia’s ASX 200 index re-tested a help zone of 5,800 – 5,850, which held properly previously two weeks. China’s Mortgage Prime Charge is ready to be launched at 9:30am Singapore Time. The short-term pattern of ASX 200 index seems to be bearish-biased, as steered by a dwindling MACD. Because the index not too long ago failed to interrupt above what gave the impression to be an “Ascending Triangle” formation, and since entered right into a correction, discovering help degree at 5,810.
ASX 200 Index – Each day Chart
— Written by Margaret Yang, Strategist for DailyFX.com
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