HSI, SiMSCI has to overcome support zones

Hang Seng Index

Hang Seng Index daily chart

Hang Seng Index daily chart

  • Index at past support that is definitely acknowledged by market, visible from price action.
  • In 15 minute time frame below, spikes show the struggle between bulls and bears.
Hang Seng Index 15 min chart

Hang Seng Index 15 min chart




SiMSCI daily chart

  • SiMSCI at zone made up of former 52-week lows, lows of 2013 and 2014.
  • Psychological value – Short sellers see the potential for this index to go lower, even August and September lows once green zone is overcome. Buyers see a low-risk proposition where stop loss can be placed tightly on just the other side of the zone.
  • Bear in mind Straits Times Index is also struggling at 3000 which is a round number of psychological value.
SiMSCI 15 min chart

SiMSCI 15 min chart

Note: Charts of CFDs here, not the exchange product.

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Soh Tiong Hum is Director of TerraSeeds Market Technician Pte Ltd. TerraSeeds is a trading educator in Singapore since 2005.   Soh's Twitter account @sohtionghum was ranked #23 out of The Top 70 Twitter Accounts To Follow In 2015 by MahiFX.   Disclaimer notice: "I do not have a financial advisor's license. I am not qualified by any regulator to give financial advice. I do not know you the reader. Your investment means and motive may be different from me. My posts here are based on observations and meant for education. I am not responsible for for any consequence from your actions."
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