Asian Indices TA — Friday, 30 October 2026

The Nikkei 225 declines 1.62% to 62,915, testing key support at S1 (62,307) amid weakening momentum, as the RSI-14 holds neutral at 46. The index remains below all major SMAs (20d=66,141, 50d=65,789, 200d=61,717), confirming bearish near-term bias. Multiple unconfirmed Double Top patterns suggest potential downside, though conviction remains moderate at 50% confidence. Resistance is layered at R1 (66,873) and R2 (69,197), while stronger support emerges at S2 (50,482). Descending trendlines reinforce selling pressure, with the 20-day resistance at 64,589 and 50-day resistance at 70,724 capping upside. A break below S1 could accelerate declines toward S2, while reclaiming the 20-day SMA is needed to stabilize the trend.

The Hang Seng Index trades at 23,095, up 0.23%, but remains in a bearish technical setup. The RSI-14 at 33 indicates oversold conditions, though price action stays below all key SMAs (20, 50, 200), confirming downtrend momentum. Three double-top patterns—two with 50% confidence and one at 91%—reinforce bearish pressure. Immediate resistance lies at the descending 20-day trendline (23,936), while support holds at 22,518 (S1). The index faces layered resistance levels (R1 26,033, R2 26,758), but sustained weakness below the 20-day SMA (23,882) suggests further downside risk. A break below S1 could accelerate declines toward the next support zone near 22,582.

The Shanghai Composite rises 0.91% to 3,681 but remains in a bearish technical setup, trading below all key SMAs (3,765/3,862/3,997). The RSI-14 at 25 signals oversold conditions, though the dominant pattern—three consecutive Double Top formations with 71-92% confidence—suggests further downside potential. Immediate resistance sits at 3,695 (20-day descending trendline), with stronger barriers at 3,924 (R1). Supports at 3,675 (S1) and 3,547 (S2) may face pressure given the confirmed bearish momentum. The index remains constrained by descending trendlines across all timeframes, with the 50-day resistance at 3,899 capping upside attempts. Current price action indicates continued weakness unless a decisive break above 3,765 (SMA20) occurs.

The KOSPI is sharply bearish today, down 6.08% to 5,647, extending its downtrend below all key SMAs (20d: 6,087, 50d: 6,534, 200d: 6,479). The RSI-14 at 40 suggests weakening momentum but not yet oversold. Multiple Double Top patterns (50-62% confidence) reinforce bearish sentiment, with resistance at 5,781 (R1) and support at 5,284 (S1). Descending trendlines confirm the bearish structure, with the 20-day resistance at 5,970 and 50-day resistance at 6,761. A break below S1 could accelerate declines toward S2 (5,051), while a reversal above R1 may signal short-term relief. The index remains in a broad downtrend, with sellers dominant across all timeframes.

The ASX 200 trades at 8,962, up 1.29%, with momentum supported by an RSI-14 of 61, indicating mild bullish bias without overbought conditions. The index remains above all key SMAs (20d=8,779, 50d=8,834, 200d=8,830), reinforcing a bullish medium-term structure. Immediate resistance sits at R1 9,041, with stronger resistance at R2 9,240. Support levels are S1 8,758, S2 8,592, and S3 8,323. Multiple Double Top patterns (50-69% confidence) suggest potential bearish reversal risks if the index fails to breach R1. Short-term trendlines show ascending support (8,748) and resistance (8,993) on the 20d, while the 50d trendlines exhibit descending support (8,541) and resistance (8,993). A break above 8,993 could negate bearish signals.

The NIFTY 50 trades at 22,699, down 0.22%, hovering near the SMA20 (22,674) but below the declining SMA50 (23,304) and SMA200 (24,073). The RSI-14 at 66 suggests mild overbought conditions. Immediate resistance lies at R1 (23,377), while support holds at S1 (22,181). Multiple bearish Double Top patterns (50-90% confidence) signal potential downside risk. Short-term trendlines show ascending support at 22,426 and resistance at 23,330, while the 50-day descending resistance at 22,981 caps upside. The index remains in a consolidation phase, with a break below 22,426 likely accelerating a test of lower supports. Caution prevails amid bearish technical signals.

The TAIEX Taiwan declines sharply to 44,960, down 4.41%, with the RSI-14 at 35 indicating near-oversold conditions. The index trades below key SMAs (20d: 47,777; 50d: 46,885; 200d: 40,603), confirming bearish momentum. Multiple double-top patterns (92%, 95%, and 50% confidence) reinforce downside risks. Immediate resistance levels are 46,477 (R1) and 47,487 (R2), while support lies at 44,332 (S1) and 41,987 (S2). Trendlines show descending 20-day resistance at 47,132 and ascending 50-day support at 44,768. The breach below the 20-day descending support at 44,769 suggests further weakness, though the 200-day SMA remains a longer-term bullish anchor. Sellers dominate near-term sentiment, but oversold RSI may prompt consolidation.