Weekly Wrap

For the week, Dow Jones Index(DJI) had its biggest weekly loss since 2011, dived 678 points or 3.8% to 17280, as crude oil price dropped more than 10% for past week.

The "Fear Index" VIX surged 77% to 21.08 for the week. Crude oil price dropped below 60 this week.

 DJI weekly chart. Next major support level is 16900 level which is its 50% fibonacci level.

 Crude Oil weekly chart

STI weekly chart. STI hit major resistance 3360 two weeks ago then retraced. next support 3250 if it continue drop.

HSI weekly chart. HSI looks very weak as well. It just dropped below its YEC 23306 this week, immediate support will be the ascending line support level at 22900, if it continue fall.

 S&P 500 weekly. Major support is 1950, which is its 50% fibo.

 Shanghai SSE weekly. SSE tested 3000 level this week and formed a weekly toppish candlestick at resistance, it may hovering around 3000 level or retrace due to profit taking.