NIKKEI

Japan 225 has broken through 20,000 resistance to confirm the start of a new upleg. A retest of the 19,800 breakout point remains possible but fading. Next measured resistance on trend possible near 20,600 and other resistance 23000.

AUSTRALIA

Australia 200 continues to struggle with 6,000 round number and channel resistance where a triple top appears to be in place. Initial support near 5,925 then 5,850. Upward momentum fading but broader uptrend intact above 5,790 on the index .Next resistance near 6150- 6300.

HONG KONG

HongKong 43 soared for a second straight day but may be starting to run into resistance near 27,540 just above the 27,500 and dating back to a previous monthly high dating back to 2007. Next upside resistance near 30,000 with initial support near 26,900 a 23% retracement of the recent advance.

By Theodoros  Batsoulis
Technical Analyst
Risk Market
www.riskmarket.co.uk