Long Term Trend (36 Months): Positive
Friday’s Settlement: (ASIA): 23,233.31
UPDATE: Nearly five weeks ago the HS traded up to 24,450.
At that time we highlighted: “24,890 represents resistance at our proprietary up-trend line (see chart), and the high posted two weeks prior to that might represent the highest the Index trades for some time - should that resistance point hold”.
Subsequently, that region held its resistance and to date, prices remain well under that region.
Key resistance currently at 25,200 due to slope of line.