16.09. Fresh trading analysis: Asian share market lowers due to concerns about real estate and casino

16.09.2021

Technical reviews

Thursday, September the 16th, today’s news – Asian trading session on share market ends lower. Traders are concerned about greater Chinese regulations in Macau, the world’s biggest spot for gambling. Chinese real estate corporation Evergrande stops the trade of its onshore corporate bonds provoking concerns about its default. European stock markets may be affected by Asian market weakening. The price of Brent oil is $75.28 per barrel, WTI — $72.44. EUR/USD is at 1,1789, GBP/USD — 1,1789, gold is at $1.786,55 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.

Trading idea for Weichai Power (HKEX)
#WEICHAI

The entry point "retracement B” is being formed. The moving average 135 crossed the 365 from the bottom up. It indicates the probable ascendant move. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals oversold conditions. 

Trading idea:
Buy when the ascending wave pattern is formed where the wave (A) breaks through the inclined channel of the descending pattern.
Stop Loss is under the support level of 16.40.
Target level: 20.50.

AUDCAD analysis
AUDCAD
The overall trend is ascendant. The currency pair is trading in the range of 365 and 135 moving averages. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals oversold conditions. 

AUDCAD rate online: monitor the price movement in real time.

Trading idea:
Buy when the ascending wave pattern is formed where the wave (A) breaks through the inclined channel of the descendant pattern.
Stop Loss is under the local minimum of the descendant pattern.
Target levels: 0.9371; 0.9395.

Author: GC
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