Market Analysis Monday 6th of May

ANALYSIS 06-05-2013

Thin strengthened the Hang Seng Index, Scan revelation ECB Interest Rate

Hong Kong stock exchange for trading days last week recorded a rise. Rising exchange movements due to the availability of a conducive situation in post-market European central bank (ECB) lowered interest rates by 25 basis points molds to 0.5%. In addition, the rise in the U.S. stock exchange yesterday also gave a positive impetus.

Technically, the index on the trading session today, Monday (06/05) chance to weaken, test negative trends, browse Wall Street. On the bearish engulfing formation M15 chart provides an opportunity for the index to move downside. However, the volume tends to rise, early indications bullish index. In addition, RSI, on the M15 chart, selling in saturated areas, signal upside.

Partly, the index test in advance Support level ie 22 370 and 22 256. If they fail at 22 551, then the index is estimated to tend to test further back resistance level that is 22 677 and the possibility of being extended to 22 798 in the area.

Services Sector Performance Boost Pressure Against Swiss Franc U.S. Dollar

After the trade last thursday move strengthened against rivalnya, Swiss franc, on the day last week saw the U.S. dollar weakened on USDCHF pair. In the spot market, this pair opened at 0.9349 in early trading (00:00 GMT), and the U.S. Dollar has weakened around -12 pips or about -0.12% and the scroll appears to be in the range of 0.9337.

Technically, today’s trading session on Monday (06/05), dollar CHF pair had the opportunity to move in a positive trend.

Strengthening of CHF especially expected back soon test resistance at 0.9417 ie the minimum and maximum of 0.9459. And as, if not capable of CHF below 0.9345 last break and then another alternative scenario ie CHF chance to test Support at 0.9298 and 0.9256 area.

Gold Price Slightly Terkoreksi Action Due Sell Gold in ETP

Gold prices today trade last week recorded a decline. Attenuation due to the movement of the gold price by the availability of a report last month that the investor in the ETP Holdings has sold ownership of 17.9 billion dollars worth of gold. The sell-off could make the gold price experienced a sharp decline.

Technically, gold at today’s trading session, Monday (06/05) reversal potential, tested positive trend, but prone to profit taking. RSI indicators tend to re-test resistance bullish channel and head area, but Bollinger band began to shrink, giving impetus to gold to the downside.

Chance of gold price immediately prior to test resistance at least in the area and re-test 1513.47 maximum level of 1539.66. But if the price of gold cannot afford to break and survive under 1474.30 then predicted the gold price potentially testing Support ie 1446.65 and 1418.65.