Asian Indices TA — Wednesday, 28 October 2026

The Nikkei 225 trades at 63,987, up 2.89%, with the RSI-14 at 54 indicating neutral momentum. The index remains below key SMAs (20d: 66,445; 50d: 66,007), suggesting near-term bearish pressure, though the 200d SMA (61,590) provides a longer-term support base. Resistance levels are seen at 66,873 (R1) and 69,197 (R2), while supports sit at 62,589 (S1) and 50,482 (S2). Three unconfirmed double top patterns (50% confidence) hint at potential bearish reversal risks. Short-term trendlines show descending resistance near 64,197, while the 50d resistance holds flat at 70,733. A break above SMA20 could signal bullish momentum, but failure to hold S1 may accelerate downside toward S2.

The Hang Seng Index rises 0.51% to 23,212 but remains in a bearish technical setup, trading below all key SMAs (20/50/200). The RSI-14 at 37 suggests mild oversold conditions but lacks strong reversal momentum. A cluster of Double Top patterns—with one high-confidence (91%) instance—signals persistent downward pressure. Resistance is firm at 24,065 (20-day descending trendline), while support holds near 22,518 (S1). The index faces layered overhead supply, with the 20-day SMA (24,032) and 50-day SMA (24,759) capping near-term rebounds. A sustained break below 22,730 (20-day trendline support) could accelerate declines toward S1. The broader trend remains bearish unless reclaiming 24,300 (50-day resistance).

The Shanghai Composite edges up 0.19% to 3,698 but remains in a weak technical posture, with the RSI-14 deeply oversold at 23. The index trades below all key SMAs (20d: 3,793; 50d: 3,874; 200d: 4,000), confirming bearish momentum. Multiple confirmed Double Top patterns (92%, 89%, 71%) suggest further downside potential. Immediate resistance sits at 3,700 (20d descending trendline), with stronger barriers at 3,924 (R1) and 4,012 (R2). Support levels at 3,675 (S1) and 3,547 (S2) may face retests if selling pressure persists. The descending 50d resistance (3,927) reinforces the broader downtrend, while failure to reclaim the 20d SMA would maintain bearish control.

The KOSPI gains 8.19% to 5,917, though it remains below key moving averages (SMA20: 6,206, SMA50: 6,575, SMA200: 6,465), reflecting persistent bearish pressure. The RSI-14 at 45 suggests neutral momentum, neither overbought nor oversold. Multiple double top patterns with 50-62% confidence indicate potential bearish reversals if resistance holds. Immediate resistance is at 5,932 (20-day descending), with stronger barriers at 6,675 (R1) and 6,796 (50-day descending). Support levels are critical at 5,051 (S1) and 5,263 (50-day descending). The index must breach 6,206 (SMA20) to shift near-term sentiment. Current price action remains corrective within a broader downtrend, requiring confirmation for sustained reversal.

The ASX 200 trades at 8,888, up 0.88%, with the RSI-14 neutral at 50. The price sits above key SMAs (20d=8,761, 50d=8,842, 200d=8,830), suggesting near-term bullish momentum. However, multiple double top patterns (50-69% confidence) signal potential bearish reversal risks. Immediate resistance lies at R1 8,970, with stronger resistance at R2 9,188. Support levels are S1 8,758, S2 8,592, and S3 8,323. The 20-day trendline shows ascending support (8,676) and resistance (8,937), while the 50-day trendline indicates descending support (8,548) and resistance (8,937). A break above 8,970 could confirm bullish continuation, while failure may reinforce bearish double top patterns. Monitor price action near these key levels.

The NIFTY 50 trades at 22,753, up 0.68%, with the RSI-14 at 60 indicating neutral momentum. The index remains above the SMA20 (22,698) but below the SMA50 (23,370) and SMA200 (24,108), reflecting mixed signals. Resistance levels are noted at 23,377 (R1), 24,307 (R2), and 26,190 (R3), while immediate support lies at 22,181 (S1). Multiple bearish double-top patterns are observed, with varying confidence levels (50%-90%), suggesting potential downside risk. Short-term trendlines show ascending support near 22,300 and flat resistance at 23,178 (20-day), while the 50-day trendlines indicate descending resistance at 23,045 and support at 21,365. Caution is warranted given the bearish patterns and overhead resistance.

The TAIEX gains 1.51% to 46,738 but remains below key moving averages, with the SMA20 (48,018) and SMA50 (46,889) acting as overhead resistance. The RSI-14 at 46 suggests neutral momentum. Three bearish double-top patterns (92%, 95%, and 50% confidence) signal potential downside risk, though the index holds above near-term ascending support at 46,089 (50-day). Immediate resistance lies at 47,487 (R1), while a break below 45,747 (20-day descending support) could accelerate selling pressure. The 200-day SMA (40,431) underscores the broader uptrend, but near-term caution is warranted given the confluence of bearish patterns and resistance levels. A decisive move above 48,329 (20-day descending resistance) would invalidate the bearish setup.