Asia Pacific indices

Australia 200 is breaking down today, taking out 5,790 channel and Fibonacci support to confirm a quadruple top and the start of a new downtrend.

Japan 225 is breaking down today. Dropping below 19,300 took out the support line of a rising channel.

Hong Kong 43 continues to drift back in a trading correction of an overbought RSI with a negative divergence suggesting upward momentum weakening. The index has drifted back under 28,230 a previous breakout point with next support near 27300.

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