Long Term Trend (36 Months): Neutral to Positive
Friday’s Close: (ASIA): 23, 574.98
UPDATE: On a net basis this Index has been flat (same price level) since OCTOBER 2011.
Four and a half months 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, but have rebounded slightly in the last three weeks.
Key support is 21,500.