Dow Jones Hong Kong Index is holding above support at 410. Respect of support would confirm the primary up-trend already signaled by a 63-day Twiggs Momentum cross above zero.
The Hang Seng similarly respected support at 20000, indicating a primary up-trend, while rising 13-week Twiggs Money Flow indicates buying pressure.
* Target calculation: 20 + ( 20 – 17.5 ) = 22.5
The Shanghai Composite Index is headed for a test of resistance at 2500. Breakout would signal a primary up-trend. Recovery of 63-day Twiggs Momentum above zero would strengthen the signal.
* Target calculation: 2500 + ( 2500 – 2250 ) = 2750
A primary up-trend on the Shanghai index would boost the recovery in Australia.