Market Analysis of Friday 12th April 2013

ANALYSIS 12-04-2013

The Hang Seng Ends Positive Follow Bursa Region

Hong Kong shares to trade on Thursday closed up. Stock managed to maintain the positive trend after a fairly active investor in seed stocks to buy today. The impact of the strengthening of the U.S. stock market today provides a conducive environment for the market ahead of the release of the issuer’s financial statements for the first quarter of this year.

Technically, the index in the trading session today, Friday (12/04) is likely to strengthen, test positive trend. On the bullish hammer formation M15 chart gives an opportunity for the index to move upside. However, the volume is likely to increase, as well as an early indication of a 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 22291 and 22410. If it fails at 22 137, then the next index is expected to tend to retest the support level 22008 and continued to be in the area of ​​21 881 possibilities.

Pulse Global Forex: Euro Weak in Early and Strong at the End

In trading this morning, the euro was observed to be in the position of 1.3057 dollars. The position of the euro has decreased compared to the level of the close of trading early this morning at 1.3070 dollar positions. Euro early this morning closed down far enough. Previously these currency positions had increased to 1.3122 dollars which is the highest position since March 8th ago

Technically, today’s trading session on Friday (12/04), the pair euro dollar likely to move in a positive trend.

A stronger Euro is mainly expected to soon re-test the resistance at 1.3240 minimum and maximum 1.3113. Meanwhile, if the Euro was unable to break and stays below 1.3113 then another alternative scenario the Euro likely to test support at the 1.3028 area and 1.2942.

Gold prices rose 0.4%, U.S. Dollar Weakens

Prices of all precious metals rose on a weaker dollar makes gold demand will increase. News from Europe, the ECB will keep interest rates low.

Technically, gold at today’s trading session on Friday (12/04) potentially bearish, test returned negative trend, but prone to reversal. RSI indicator tends to re-test support channel and towards the oversold area, but Bollinger Band which began to widen, thus giving impetus to gold to the upside.

Estimated gold price immediately prior to test support at least in the area of ​​1547.09 and re-test the maximum level of 1537.05. However, if the price of gold is able to break and hold above 1560.65 then estimated the price of gold could potentially test the Resistance 1547.09 and 1537.05.