Market Analysis of Monday 18 March 2013

Closed Kospi Slump Again, hard Stable

South Korean stock market on Friday trading was closed up. Unstable movement seen in the last 3 days earlier where the South Korean stock exchange had increased and made it through level 2000 basis points. However, these conditions do not last long these days karen stock fell back to a level of 1986 basis points.

Technically, the index on the trading session today, Monday (18/03) likely strengthen, test positive trend. In M15 chart formidable bullish hammer provides an opportunity for the index to move upside. However, the volume is likely to increase, as well as 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 resistance level of 266.15 and 269.03. If it fails at 263.05, we then estimated the index tends to retest the 260.31 level Support and continued until the area is likely to be 257.77.

                     

Euro Zone Agrees 10 Billion Euro Bailout Cyprus

International lenders to make a deal on Saturday to give Cyprus bailout worth 10 billion euros ($ 13 billion) to avoid bankruptcy, according to a senior official euro zone.

Technically, today’s trading session on Monday (18/03), the pair euro dollar likely to move in a positive trend.

The strengthening of the Euro is mainly expected to immediately re-examine the minimum resistance at 1.3238 and 1.3347 maximum. Meanwhile, if the Euro was unable to break and hold below 1.3071 then another alternative scenario the Euro likely to test the existing Support 1.2932 and 1.2802 area.

                        

Gold Prices Up To Price Weekly Top Two Months

The market is very supportive of gold prices rise on Friday where the first Asian markets have gone up, but a little further up on the European market since dat European inflation rose 2.3% in the fourth quarter of 2012, salaries rose 1.4% compared to an increase of 2% in Q3.

Technically, gold trading session today, Monday (18/03) 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 ​​1601.94 and re-test the maximum level of 1610.24. However, if the gold price could not break and stays below 1591.50 then predicted the gold price could potentially test the 1583.34 and 1575.32 Support.