Asian Indices TA — Monday, 12 October 2026

The Nikkei 225 trades flat at 69,031 (-0.02%), hovering near resistance at R1 (69,608) as the RSI-14 at 66 suggests mild overbought conditions. The index remains above key SMAs (20d: 66,524; 50d: 65,990; 200d: 60,791), confirming a broader uptrend, though three unconfirmed double top patterns (50% confidence) signal potential bearish reversal risks. Immediate ascending trendline support sits at 66,955 (20d), while resistance trends upward at 71,778. A break below SMA20 could test S1 (62,589), but sustained momentum above 69,608 may target R2 (72,832). The mixed technical signals warrant caution despite the prevailing bullish structure.

The Hang Seng Index trades at 24,271, up 0.25%, but remains below key SMAs (20d: 24,518; 50d: 25,114; 200d: 25,502), signaling bearish pressure. The RSI-14 at 37 suggests mild oversold conditions but lacks strong reversal momentum. Three bearish Double Top patterns (50-88% confidence) reinforce downside risks, with immediate resistance at 24,456 (20d descending trendline) and support at 24,102. The index faces layered resistance up to 26,758, while a break below 24,102 could test 23,575 (20d descending support). The broader downtrend persists, with sustained moves above SMA20 needed to shift near-term sentiment. Caution prevails given the confluence of technical bearish signals.

The Shanghai Composite declines 0.43% to 3,797, remaining below all key SMAs (20d: 3,886; 50d: 3,899; 200d: 4,008), signaling sustained bearish pressure. The RSI-14 at 37 confirms oversold conditions but lacks reversal momentum. A cluster of Double Top patterns (71-92% confidence) reinforces the downtrend, with immediate resistance at 3,924 (R1) and support at 3,762 (S1). Descending trendlines (20d: 3,747-3,947; 50d: 3,754-3,998) highlight narrowing price action. The index faces structural headwinds unless it reclaims the 20-day SMA, while a break below S1 could accelerate losses toward S2 (3,547). The bearish bias persists absent a decisive close above 3,900.

The KOSPI is trading at 6,384, down 3.65%, with the RSI-14 at 45 indicating neutral momentum. The index remains below key SMAs (20d: 6,854; 50d: 6,684), reinforcing bearish near-term sentiment, though the 200d SMA (6,376) provides tentative support. Resistance levels are noted at 6,675 (R1), 6,996 (R2), and 7,187 (R3), while support lies at 5,051 (S1). Multiple bearish double-top patterns (87% and two 50% confidence instances) suggest potential downside. Trendlines show descending resistance near 7,107 (20d) and 7,153 (50d), with support at 6,368 holding critical. The broader trend remains weak, with a break below 6,368 likely accelerating selling pressure.

The ASX 200 trades at 8,783, up 0.76%, with the RSI-14 at 37 indicating potential oversold conditions. The index remains below key SMAs (20d=8,712, 50d=8,926, 200d=8,827), reinforcing a bearish bias. Resistance levels are noted at 8,873 (R1), 9,065 (R2), and 9,240 (R3), while supports sit at 8,746 (S1), 8,588 (S2), and 8,323 (S3). Three double-top patterns (95%, 85%, 50% confidence) suggest downward pressure. Short-term trendlines show descending support near 8,588 and resistance at 8,825 (20d), with the 50d trendline support at 8,435 and resistance at 8,794. The technical setup leans bearish, though oversold RSI may temper near-term declines. A break below S1 could accelerate downside momentum.

The NIFTY 50 is currently trading at 22,363, down 0.70%, showing bearish momentum as it remains below key SMAs (20, 50, and 200-day). The RSI-14 at 44 indicates weakening but not oversold conditions. Multiple bearish double-top patterns (63%, 50%, and 50% confidence) reinforce downside risks. Immediate support lies at 22,183 (S1), with resistance at descending trendlines (20d: 22,651; 50d: 22,909). The index faces strong overhead resistance at 24,307 (R1), while the descending support trendline at 21,780 (20d) could act as a near-term floor. The broader downtrend is confirmed by the price trading below all major SMAs, suggesting continued bearish pressure unless a decisive breakout occurs above 22,909.

The TAIEX trades at 49,302, down slightly by 0.02%, with the RSI-14 at 68 indicating overbought conditions. The index remains above key SMAs (20, 50, 200), confirming a bullish trend, but faces resistance near 50,287–50,698. Multiple double-top patterns (92%, 95%, and 50% confidence) suggest potential bearish reversal risks. Immediate support lies at 48,552–48,769, with stronger levels at 44,332 and 41,987. The ascending trendlines reinforce near-term bullish momentum, but a break below 48,552 could signal a pullback. Caution is warranted given overbought RSI and bearish patterns, though the broader uptrend remains intact unless support zones are breached.