$STI-SES, $200-FTSB, $N225-NKI: Asian Stock Market Monthly Update


$STI-SES Singapore Stock Market Monthly Update.   Since June 2009, the Singapore stock market has been in a consolidation pattern between the low region of 2528 and the high regions of 3548.   This monthly update will analyze the market to see the current state of the market.

Below is the MONTHLY STI index based on esignal chart:

As you can see, on May 2017 it broke a resistance level @ 3194.34. This month, that resistance has become the support and the next resistance is @ 3252.18. Be cautious as the Monthly is still in a consolidation pattern. It has a higher probability to be bullish after another two months in August 2017, if it maintains this bullish direction.

Let us look at the Weekly chart. Below is the Weekly STI index based on esignal chart:

By zooming in to the weekly chart, we can see that price had broken the Monthly resistance @ 3252.18 in the week ending in 8 May. However, the following week saw that price close below and between the M resistance and Weekly Support (Tenken Sen) . Until it breaks this level, it will ping pong between the weekly Support and monthly resistance.

Next, we head down to the Dialy time frame. Below is the Daily STI index based on esignal chart:

Daily shows a strong bullish movement with a minor pullback on the week ending in 19 May. As you can see the pull back on 18 May to the Daily Kijun Sen syncs with the Weekly Tenken Sen.  It is in a trend continuation mode. However, momentum will be getting weak by next week, and this will lower its bullish probability.  And the next target is around 3252.18, which is the Monthly Resistance.



Nikkei 225 INDEX:

$N225-NKI Japan Stock Market Monthly Update.Since April 2013, the Nikkei 225 has been trending bullish and only did a minor pull back in 2016 but broke the critical monthly support (17901) in Nov 2016. Since Dec 2016 it has been hovering for 5 months unable to break an iMTF™ resistance at 19295 that is until May 2017, which it managed to break the iMTF™ level. It then broke the Montly resistance on 19601 (pivot high).

Below is the Monthly chart provided by eSignal:

Weekly is bullish and has managed to stay above the previous M resistance (now support). Price has now room to move as the next major resistance is at 20956.80.

Let’s look at the Weekly chart. Below is the Weekly chart provided by eSignal:

Daily has been in a consolidation pattern since Dec 2016. May 2017 saw price breaking the high of the consolidation around 19601.72. It then maintained to hover around there falling back twice but quickly recovering. Price has now room to move as the next major resistance is at 20956.80.

Let’s take a look at the Daily Chart provided by eSignal:


Bursa Malaysia KLCI INDEX:

$200-FTSB Bursa Malaysia Stock Market Monthly Update.Since Sept 2015, KLCI has done a major pull back into the cloud and has been consolidating from there ever since. Last month (May 2017) price was held by an iMTF™ resistance at around 1771. The bulls will have high probability (due to momentum) in June (if it breaks the weekly resistance at 1764) or after August 2017 if it maintains a more horizontal movement.

Below is the Monthly chart provided by eSignal:

Weekly has been in a consolidating pattern since September 2015. Weekly price has been stopped by the weekly resistance in the month of May 2017 for about 3 times. With the Flat Tenken Sen forming below the price, price is trap between the Weekly resistance and the Ten Ken Sen. It will bounce between this two level until one gets broken.

Let’s look at the weekly chart provided by eSignal:

Daily price has been moving side ways as a result of being held by the Weekly Resistance. The longer it stays side ways, the more weaker bullish it gets. We shall see by 8 June 2017, does it go bullish or stay sideways.



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