Jalatama Daily ANALYSIS 19-03-2013

Hang Seng Hit, Dragged Sentiment Cyprus Crisis

Hong Kong shares to trade on Monday closed down 2%. Drop in stock movement is caused by the presence of a considerable pressure from the actions of investors to sell shares along with the emergence of concerns about the banking system of Cyprus 9.9% tax will apply to the deposit holders.

Technically, the index on the trading session today, Tuesday (19/03) likely to weaken, test negative trends, the impact of Wall Street. In M15 chart formidable bearish engulfing provide opportunities for the index to move downside. However, the volume is likely to increase, an early indication of bullish index. In addition, RSI, on the M15 chart, is in oversold area, cue upside.

It is estimated, the index tested the first level Support 21 850 and 21 722. If it fails at 22 047, we then estimated the index tends to retest the resistance level of 22,206 and is likely to be followed up in the area of ​​22 345.

                       

Sterling Was-Was Ahead of CPI Data

Sterling slipped versus the greenback ahead of inflation data on Tuesday, which is expected to show an increase from the previous month.

Technically, the trading session today, Tuesday (19/03), Sterling dollar pair has a chance to move in a negative trend.

The weakening of sterling primarily expected to immediately re-examine the minimum Support at 1.5017 and 1.4952 maximum. Meanwhile, when sterling was able break and stay above 1.5094, then another alternative scenario that is sterling opportunity to test existing Resistance 1.5163 and 1.5221 area.

                                

Shining Gold Banking Cyprus Amid Unrest

Gold prices to trade on Monday registered an increase. Gold is a safe-haven commodity sebaga really take advantage of the benefits amid the European financial situation back in shock as a result of the implementation plan 9.9% tax for the owners of the deposits in Cyprus in order to help the country out of the debt crisis.

Technically, gold trading session today, Tuesday (19/03) potential reversal, tested positive trend, but prone to profit taking. RSI indicator tends to re-test resistance bullish channel and into the area, but the Bollinger Bands are starting to shrink, thus giving impetus to gold to the downside.

Estimated gold price immediately prior to test resistance at least in the area of ​​1615.97 and re-test the maximum level of 1623.33. However, if the gold price could not break and stays below 1605.00 then predicted the gold price could potentially test the 1597.90 and 1590.77 Support.