Nikkei 225, Kospi and Hang Seng 50 Forecasts – Asian Indices Remain Strong Longer-Term

Nikkei 225 Technical Analysis

The Nikkei 225 did pull back just a touch in the early part of the session on Thursday, but we are hanging around in a consolidation area after shooting higher. Ultimately, I think this is a buy on the dip type of scenario and traders will continue to look at these little pullbacks as an opportunity to get long and truly take advantage of the overall trend.

If we were to drop from here, the 60,000-yen level is an area I’d be watching for the beginning of pretty significant support.

Kospi Technical Analysis

The KOSPI in South Korea continues to rip higher based on semiconductors more than anything else, as artificial intelligence is a major driver of technology stocks overall. The KOSPI has been one of the best performing indices that I’m aware of for months and it looks like we are starting to see a lot of this upward momentum perhaps try to send the South African index above the 8,000 level.

Short-term pullbacks have plenty of support, especially near the 7,500 level and then after that the 7,000 level.

Hang Seng 50 Technical Analysis

The Hang Seng 50 in Hong Kong has fallen pretty hard, but it does see the 26,250 level. That’s an area that has been supported multiple times over the last couple of weeks, and then we have the 50-day EMA sitting just above the 26,000 level.

To the upside, market participants could be looking at the 27,000 level as a bit of a target. This was a wicked candlestick, but the one before was a wicked bullish candlestick in the other direction. Ultimately, this is a market that I think will continue to see a lot of these buyers come in and try to pick up this index every time it offers a little bit of value.