Market Analysis of Monday 15th April 2013

ANALYSIS 15-04-2013

Due Kospi index plummeted Security Tensions in Korea

South Korean shares fell after the end of the previous two days has increased. Weakening market movements triggered by the concerns of investors on security conditions on the Korean Peninsula. Investors are quite concerned that the North Korean military will launch missiles into South Korean territory in the next few days.

Technically, the index in the trading session today, Monday (15/04) likely to weaken, test negative trends, the impact of Wall Street. On the bearish engulfing formation M15 chart gives an opportunity 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 the oversold area, cue upside.

Expected, the index tested the first support level ie 248.46 and 246.79. If it fails at 251.30, then the next index is expected to tend to retest the 253.30 resistance level and continue up the possibility of being in the 255.10 area.

                         

Sterling Gains Against U.S. Dollar, Match Predictions

Sterling exchange rate on the trade last week showed the trend generally observed edged higher against the U.S. Dollar. Trading the currency pair GBP / USD is in the range of 1.5306 after opening at the beginning of the trading week has climbed about 32 pips or about + + 0:21% and closed at around 1.5339.

Technically, today’s trading session on Monday (15/04), pair sterling dollar likely to move in a positive trend.

Strengthening of sterling primarily expected soon reexamine the minimal resistance at 1.5532 and 1.5685 maximum. Meanwhile, if sterling was unable to break and stays below 1.5348 then the other alternative scenarios that sterling sterling opportunity to test existing Support 1.5213 and 1.5098 area.

                         

Gold sinks, Experience Bearish Market Territory

Gold fell nearly 4% on Friday, entering bear market territory as institutional investors moved to take off bullion with other safe-haven assets amid concerns about central bank gold sales and a drop in sentiment.

Technically, gold at today’s trading session on Monday (15/04) 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 ​​1459.52 and re-test the maximum level of 1441.43. However, if the price of gold is able to break and hold above 1486.55 then estimated the price of gold could potentially test the Resistance 1504.74 and 1523.47.