Market Analysis Monday 22th of April

ANALYSIS 22-04-2013

Closed Hang Seng Index soars, Mining Stocks and Bank Support

Hong Kong stock exchange for trading Friday closed up significantly yesterday and managed to be above 22,000 basis points. This time gains were supported by rising stock prices of the banking sector and mining stocks. Both of these sectors has increased as a result of the conditions for the rebound in crude oil prices and gold since yesterday.

Technically, the index in the trading session today, Monday (22/04) is likely to strengthen, test positive trend. On the M15 chart bullish hammer berformasi provide opportunities 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 the oversold area, cue upside.

Expected, the index tested the first resistance level of 22243 and 22410. If it fails in 22004, we then estimated the index tends to retest the support level of 21836 and continued up to the possibility of being in the 21689 area.

                        

Dollar Weakens Against Euro exchange rate, Match Analyst Predictions

Euro in trading last week (April 15 to 20) are generally observed trend lower against the U.S. dollar, according to analyst predictions. Trade the currency pair EUR / USD is in the range of 1.3096 after opening at the beginning of the trading week has dropped about -48 pips or about -0.36% and closed at around 1.3048.

Technically, the trading session today, Monday (22/04), the pair euro dollar likely to move in a negative trend.

The weakening Euro is mainly expected to immediately reexamine the minimum support at 1.2871 and 1.2741 maximum. Meanwhile, if the euro is able to break and hold above 1.3056, then another alternative scenario the chance to test Euro Resistance at 1.3192 and 1.3326 area.

                                  

Gold futures close higher price, Still Below $ 1.400 At the End of Last Week

Precious Metals prices mixed at the close end of the week the price of gold and palladium rose while the price of silver, copper and platinum fell.

Technically, gold at today’s trading session, Monday (22/04) potential reversal, tested positive trend, but prone to profit taking. Indicator RSI resistance likely to re-test the 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 ​​1451.34 and re-test the maximum level of 1480.04. However, if the gold price could not break and stays below 1408.45 then estimated the price of gold has the potential to test Support the 1370.55 and 1339.72.