Market Analysis Tuesday 7th of May

ANALYSIS 07-05-2013

End KOSPI Trading Down 0.2%

In trading on the stock exchange market of South Korea, with profit taking dragged the automotive and technology sectors ended lower, resulting in a key index ended down on Monday.

Technically, the index on the trading session today, Tuesday (07/05) 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 253.80 and 252.66. If they fail at 255.55, then the estimated index tend to test further back ie 256.75 resistance level and the possibility to be extended to the 257.81 area.

Dollar – Yen Finally thru 100 in the Month of May?

April is not the month for the U.S. dollar to be able to penetrate above 100 yen. Tradingkan U.S. dollar around 99 yen on Monday, float in the key obstacles that seek penetrated 100 last month but failed.

Technically, today’s trading session on Tuesday (07/05), the dollar yen pair had the opportunity to move in a positive trend.

Strengthening of yen mainly predicted back soon test resistance at 100.16 ie the minimum and maximum of 100.94. And as, if not capable of yen below 99.27 last break and then another alternative scenario ie Yen chance to test Support at 98.56 and 97.85 area.

Stimulus the Fed and ECB Still Support Gold Price Rises

The price of gold moved up on a Monday yesterday, as hopes for the Fed and the European Central Bank will continue its monetary policy further to support the current sentiment.

Technically, gold trading session today, Tuesday (07/05) 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 1537.15 maximum level of 1537.15. But if the price of gold can not afford to break and survive under 1467.75 then predicted the gold price potentially testing Support ie 1439.95 and 1413.97.