Market Analysis of Thursday 11th April 2013

ANALYSIS 11-04-2013

Still Crawling Kospi Index Rises

South Korea’s stock exchange yesterday closed Wednesday for a rise. Slow but sure, positive movement back continues since yesterday. Strengthening exchanges caused by the increase of the share purchase by investors last week hold positions perform.

Technically, the index on the trading session today, Thursday (11/04) have the opportunity to strengthen, test positive trend. In a bullish hammer formation M15 chart provides an opportunity for the index to move upside. However, the volume tends to increase, as well as an early indication of a bullish index. In addition, RSI, on the M15 chart, selling in saturated areas, signal upside.

Partly, the index test first resistance level ie 258.27 and 259.48. If they fail at 256.30, then the estimated index tend to test further back ie 255.04 Support levels and likely be extended to 253.87 area.

Yen exchange rate Lowest In 4 Years Last, Japanese Stocks Still Up

After the trade moves yesterday Corrections and slightly strengthened, Japanese Yen exchange rate at dawn today (11/04) returned to continue the movement weakened against the U.S. Dollar in trading of USDJPY.

Technically, today’s trading session on Thursday (11/04), the dollar yen pair had the opportunity to move in a positive trend.

Strengthening of yen mainly predicted back soon test resistance at 101.13 ie the minimum and maximum of 102.14. And as, if not capable of yen below 99.66 last break and then another alternative scenario ie Yen chance to test Support at 98.54 and 97.53 area.

Gold Prices Fall $ 27, minimum price Approach

The price of gold fell, on Wednesday approached the cheapest prices fell yesterday to $ 27.90 or 1.8% to a price of $ 1,558.80 per ounce on the Comex exchange – the New York Mercantile Exchange on Wednesday in the U.S. trading session yesterday.

Technically, gold trading session today on Thursday (11/04) potentially bearish, test returned negative trend, but prone to reversal. RSI indicators tend to re-test Support channel oversold area and heading, but Bollinger Bands are beginning to widen, thus providing the impetus for gold for upside.

Chance of gold price immediately prior to test Support at least in the area of ​​re-test 1541.59 and 1531.83 maximum level. But if the price of gold is able to break above 1554.80 and defending the gold price estimated potential test resistance ie 1565.54 and 1573.82.