Kospi ended down 1.4%; 1870 Support
Kospi index ended down by 1.4% at 1882.73 as a sharp decline in the Nikkei have an impact on Asian markets; 1870 will be the support level, which analysts say will be an important technical level.
Kospi index ended down by 1.4% at 1882.73 as a sharp decline in the Nikkei have an impact on Asian markets; 1870 will be the support level, which analysts say will be an important technical level.
Technically, the index in the trading session today, Friday (14/06) 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 a 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 243.61 and 242.39. If it fails at 245.55, then the next index is expected to tend to retest the 246.86 resistance level and continue up the possibility of being in the 248.00 area.
Yen Gains Further Ready
According to Robert Sinche, global strategist at Pierpont Securities Holdings, the yen will strengthen further, due to Japanese investors were disappointed the BoJ monetary easing policies. “The BoJ hopes to buy government bonds will encourage Japanese investors to move capital into overseas markets, which would weaken the yen, but it did not happen” said Robert
According to Robert Sinche, global strategist at Pierpont Securities Holdings, the yen will strengthen further, due to Japanese investors were disappointed the BoJ monetary easing policies. “The BoJ hopes to buy government bonds will encourage Japanese investors to move capital into overseas markets, which would weaken the yen, but it did not happen” said Robert
Technically, today’s trading session on Friday (14/06), the dollar yen pair has a chance to move in a positive trend.
A stronger yen primarily expected soon reexamine the minimal resistance at 97.67 and 99.17 maximum. Meanwhile, if the Yen was able to break and stays below 95.61 then another alternative scenario that is likely to test support Yen’s in the area of 93.84 and 92.45
A stronger yen primarily expected soon reexamine the minimal resistance at 97.67 and 99.17 maximum. Meanwhile, if the Yen was able to break and stays below 95.61 then another alternative scenario that is likely to test support Yen’s in the area of 93.84 and 92.45
Gold down 1% as U.S. Jobs Data
Gold and silver fell 1 percent after fewer Americans are filling out an application for unemployment benefits than expected last week, easing pressure on the Federal Reserve to maintain stimulus measures to boost the economy
Gold and silver fell 1 percent after fewer Americans are filling out an application for unemployment benefits than expected last week, easing pressure on the Federal Reserve to maintain stimulus measures to boost the economy
Technically, gold at today’s trading session on Friday (14/06) 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 1357.86 and re-test the maximum level of 1338.07. However, if the price of gold is able to break and hold above 1385.35 then estimated the price of gold could potentially test the Resistance 1406.44 and 1425.03.
Estimated gold price immediately prior to test support at least in the area of 1357.86 and re-test the maximum level of 1338.07. However, if the price of gold is able to break and hold above 1385.35 then estimated the price of gold could potentially test the Resistance 1406.44 and 1425.03.
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