Market Analysis Tuesday 18th of June

ANALYSIS 18-06-2013

Kospi worry about Global Economy

Kospi fell as widespread concerns over global economic growth outlook. G-8 confirms outlook for the global economy remains weak despite slowdown risk has been reduced.

Technically, the index in the trading session today, Tuesday (18/06) likely to weaken, test negative trends, the impact of Wall Street. On the M30 chart bearish engulfing berformasi provide opportunities for the index to move downside. However, the volume is likely to increase, an early indication of bullish index. In addition, RSI, on the M30 chart, is in the oversold area, cue upside.

Expected, the index tested the first support level ie 241.16 and 238.37. If it fails at 245.55, then the next index is expected to tend to retest the 248.66 resistance level and continue up the possibility of being in the 251.55 area.

Stock Trading Session duration in Europe, Euro Steady Against U.S. Dollar

Trading foreign exchange on Monday the euro just naturally a little movement against the U.S. dollar as investors await the outcome of a U.S. Federal Reserve meeting later this week.

Technically, today’s trading session on Tuesday (18/06), the pair euro dollar likely to move in a positive trend.

A stronger Euro is mainly expected to soon re-test the resistance at 1.3541 minimum and maximum 1.3659. Meanwhile, if the Euro was unable to break and stays below 1.3357 then another alternative scenario the Euro likely to test support at the 1.3228 area and 1.3117.

Gold prices closed down to $ 1,383.10

Gold prices ended closed down after the broker more waiting to be ahead of the Federal Reserve’s FOMC meeting which will take place this week.

Technically, gold at today’s trading session on Tuesday (18/06) 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 ​​1356.12 and re-test the maximum level of 1340.66. However, if the price of gold is able to break and hold above 1384.90 then estimated the price of gold could potentially test the Resistance 1404.16 and 1421.66.