All these indices had however broken above their downtrend line (unlike the indices of the developed nation where some had broken above the accelerated downtrend line, not the downtrend line drawn from their recent peak). In addition, two of these Asian markets' indices (i.e. TWII & KS11) had seen their 50-day SMA hooking up. As such, I believe these markets are positioned for a faster recovery than the markets in more developed nations. Strong horizontal resistance lies ahead for all these markets, so their upleg move will not be swift & easy.
After looking through these charts, I believe that our market is trying to do a catch-up with other Asian markets. Undoubtedly, our market would be slower to recover due to our political uncertainty.
Chart 1: HSI's daily chart up to April 16th (from Yahoo Finance)
Chart 2: TWII's daily chart up to April 16th (from Yahoo Finance)
Chart 3: STI's daily chart up to April 16th (from Yahoo Finance)
Chart 4: KS11's daily chart up to April 16th (from Yahoo Finance)
3 comments:
One comment was deleted because it looked suspicious. I welcome all constructive comments, which are relevant & concise. Comments, like the one that I had just deleted (which read "Please go here"), are either mischievous or dangerous as the embedded hyperlink may be harmful.
alex, i have added you in my blog. can you add me into your blog link. tq.
http://ginsing70.blogspot.com/
philip
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