Market Analysis of Thursday 28 March 2013

Gold Report 28^th March

Yesterday gold’s burst higher was partly attributed to comments by Fed Policymakers Charles Evans and Eric Rosengren who advocated the current $85 billion per month stimulus programme throughout all of 2013 despite improving economic conditions. These comments also contributed to a spike in equities.

Today the market seems bearish as an ugly looking triple top is forming on the 15 minute chart and the fact that a recent candlestick has poked its upper shadow through the upper bollinger band. Due to the low risk entry it may be worth shorting before the neckline is completed to maximise profit in a slow moving market and also to take advantage of the bollinger signal.

                       

The 1 hour chart is displaying recent long upper shadowed candlesticks indicating a few hours of price drifting lower. Use either the Fibonacci 38.2% or 50% retracement level for a short target which equates to $1602 and $1600 respectively. The 4 hour chart is also giving signals that price is at the crest of the wave ready for a few dollars of declines over the next 48 hours but be wary the daily chart still has some bullish signs so an uptrend could resume in the next few days.

                      

Market Analysis of Wednesday 27 March 2013

NEWS 27-03-2013

Kospi broke Correction Amid Asian stocks

In late trade, the South Korean stock market closed up. After the previous days weakened, South Korea’s stock market is approaching the level of 2000 basis points that had touched almost two weeks ago. Strengthening the exchange time is quite surprising considering the majority of stock markets in the Asia is undergoing a correction.

Gains were due to the positive sentiment associated with the speculative increase in performance of the issuer’s financial statements in the technology sector in the South Korean stock market in the first quarter of this year.

Kospi index closed up 0.3% to 1983.7 basis points. While the index futures rose 3.3 points to 261.8 basis points, with the support level of 258.62 points and resistant level at 265.77 basis points.

Analysts predict that the South Korean stock market is still vulnerable to a correction. Level 2000 basis points is still quite risky in the short term where investors want to invest in the short term.

Stable Against the Swiss Franc Greenback

The U.S. dollar was virtually unchanged against the Swiss franc on Tuesday, hovering near a two week high as optimism Cyprus encouraging market sentiment despite concerns future bank rescue eurozone to impose a burden on the depositor.

Pair USD / CHF 0.9504 level touch during trading in Europe on Tuesday, and then the pair consolidated slightly weakened 0.03% at 0.9488 level. Currency pair is likely to find support at 0.9438 level and the resistance level at 0.9533 level.

Jittery market sentiment after the head of the Eurogroup, Jeroen Dijsselbloem, said on Monday that the rescue program agreed for Cyprus is a new model to solve the euro zone banking and other countries may have to restructure their banking sector.

Gold Prices Down 0.5%, Shares and U.S. Dollar Stronger

The metal has decreased, after approval for the bailout Cyprus. Gold prices fall as U.S. economic data released today an increase in the data durable good and housing price increases is an indication that the U.S. economy improves an increase in the stock index and the U.S. dollar rose.

Comex April gold prices fell $ 7.70 in or 0.5%, to $ 1,596.80 per ounce biggest drop since February 28. Spot gold prices fell $ 7.40 to $ 1,598.50 per ounce. Resistant first at $ 1.605 and $ 1,612.80 following the Per ounce. The first support at $ 1,588.40 and below to $ 1.580.

Silver Price May fell 9 cents, or 0.5%, to $ 28,725 per ounce. Resistant first at $ 28.89 and the next at $ 29.00 while support at $ 28.46 and below $ 28.40 per ounce.

NYMEX May in copper prices rose 9 cents, or 0.3%, to $ 3.4540 per ounce by the first resistant at $ 3.4865 and below to $ 3,500 while the support at $ 3.4385 and below the $ 3,400 per ounce.

July platinum prices fell 1.1% to $ 1,569.80 per ounce. Support $ 1,555,50 and $ 1.620 per ounce resistant.

June palladium prices rose 0.5% to $ 761.40 per ounce. Support $ 670.7 and $ 780 per ounce resistant.

ANALYSIS 27-03-2013

Kospi broke Correction Amid Asian stocks

In late trade, the South Korean stock market closed up. After the previous days weakened, South Korea’s stock market is approaching the level of 2000 basis points that had touched almost two weeks ago. Strengthening the exchange time is quite surprising considering the majority of stock markets in the Asia is undergoing a correction.

Technically, the index on the trading session today, Wednesday (27/03) likely to weaken, test negative trends, the impact of Wall Street. In M15 chart formidable bearish engulfing 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 M15 chart, is in oversold area, cue upside.

It is estimated, the index tested the first level Support 261.17 and 260.59. If it fails at 262.00, we then estimated the index tends to retest the 262.70 resistance level and continue until the area is likely to be at 263.30.

                           

Stable Against the Swiss Franc Greenback

The U.S. dollar was virtually unchanged against the Swiss franc on Tuesday, hovering near a two week high as optimism Cyprus encouraging market sentiment despite concerns future bank rescue eurozone to impose a burden on the depositor.

Technically, today’s trading session on Wednesday (27/03), Swiss Franc dollar pair has a chance to move in a positive trend.

The strengthening of the Swiss Franc is mainly expected to immediately re-examine the minimum resistance at 0.9527 and 0.9559 maximum. Meanwhile, if the Swiss Franc was able to break and hold below 0.9478 then the alternative scenario the Swiss Franc another chance to test the existing Support at 0.9440 and 0.9408 area.

                             

Gold Prices Down 0.5%, Shares and U.S. Dollar Stronger

The metal has decreased, after approval for the bailout Cyprus. Gold prices fall as U.S. economic data released today an increase in the data durable good and housing price increases is an indication that the U.S. economy improves an increase in the stock index and the U.S. dollar rose.

Technically, gold trading session today, Wednesday (27/03) potential reversal, tested positive trend, but prone to profit taking. RSI indicator tends to re-test resistance bullish channel and into the area, but the Bollinger Bands are starting to shrink, thus giving impetus to gold to the downside.

Estimated gold price immediately prior to test resistance at least in the area of ​​1608.67 and re-test the maximum level of 1615.01. However, if the gold price could not break and stays below 1599.75 then predicted the gold price could potentially test the 1593.21 and 1587.69 Support.

                        

Gold falls as Cyprus bailout talks seen deadlocked

 Gold futures are trading lower to start the week in Asia as markets and traders remain pensive about what the next move out of Cyprus could be.

On the Comex division of the New York Mercantile Exchange, gold futures for June delivery fell 0.12% to USD1,606.05 per troy ounce in Asian trading Monday after settling at USD1,608 per ounce last week. Gold futures rose 1% last week.

Gold prices were likely to find support at USD1,575.80 a troy ounce, the low from March 14 and near-term resistance at USD1,619.40, the high from February 26.Continue Reading....

Global Currency Markets Look At Economic Data

This week, the Cypriot bailout and bank levy have been the headline event as global Forex markets reacted to the surprise bailout agreement and the ongoing rebate and rejection of the EU bailout. Traders headed for safety, pushing the US dollar up and seeing the euro fall to recent lows. Gold advanced a bit on safe trading. By late in the day, traders lost interest in Cyprus and turned their focus on the US FOMC rate and policy decision. The Fed decision and statement were in line with expectations leaving stimulus at 85 billion dollars per month. The currency markets showed very little reaction. The Fed trims forecast for 2013, 2014 unemployment rate, continued bond buying Federal Reserve officials forecast the nation’s unemployment rate will hit the central bank’s threshold for raising interest rates sometime in 2015, while projecting faster improvement in the labor market this year.
This morning China’s PMI rebounds in sign of sustained recovery China’s flash manufacturing index was 51.7 in March, expanding at a faster pace as compare to final reading of 50.4 for Feb’13 as production and orders pick up, a HSBC survey showed Japan post longest run of trade deficit in three decades.Continue Reading....

Market Analysis of Monday 25 March 2013

ANALYSIS 25-03-2013

Hang Seng doldrums Since Morning

Hong Kong shares to trade on Friday last week recorded a decline. Negative movement resumed after investors prefer to sell stocks after several companies in the mining sector is reporting a profit decline in the fourth quarter of last year. Previously obtained from the pressure-induced weakening of the U.S. stock market due to the falling shares of Oracle Corp quarterly profit due to falling.

Technically, the index on the trading session today, Monday (25/03) likely to weaken, test negative trends, the impact of Wall Street. In M15 chart formidable bearish engulfing 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 M15 chart, is in oversold area, cue upside.

It is estimated, the index tested the first level Support 21 986 and 21 870. If it fails at 22 140, we then estimated the index tends to retest the resistance level of 22,274 and is likely to be followed up in the area of ​​22 367.

                         

Euro Raised news Cyprus-EU Agreement

In today’s trading the euro movement seemed eager (25/03). The euro rose against the 16 main rivals, especially the U.S. dollar. The increase came after the euro was news that Cyprus has reached a basic agreement with the European Union on security assistance funding to the island nation.

Technically, today’s trading session on Monday (25/03), the pair euro dollar likely to move in a positive trend.

The strengthening of the Euro is mainly expected to immediately re-examine the minimum resistance at 1.3127 and 1.3202 maximum. Meanwhile, if the Euro was unable to break and hold below 1.3042 then another alternative scenario the Euro likely to test the existing Support 1.2982 and 1.2921 area.

                          

LLG Gold Price Dropped $ 6.95

On Monday, gold prices rose 60 cents LLG opened to $ 1,608.10. After one week the Cyprus problem has not been completed, but on Friday there was a way out, with the rejection of the imposition of a tax on deposits, the ECB will provide assistance, but awaiting approval from European Union countries, meeting conducted on Monday, so the price of gold fell back .

Technically, gold at today’s trading session on Monday (25/03) potentially bearish, test returned negative trend, but prone to reversal. RSI indicator tends to re-test Support channel and towards the oversold area, but the Bollinger band 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 ​​1597.63 and re-test the maximum level of 1589.97. However, if the price of gold capable of break and held above 1608.55 then predicted the gold price could potentially test the Resistance 1617.41 and 1624.83.

                           

Market Analyse Friday 22 march 2013

Nikkei Rises After Break Today

Japanese shares for trading on Thursday closed up. Plus some fundamental sentiments provide sufficient impetus for the movement of solid stock. The fundamental sentiment of which is a positive market after Haruhiko Kuroda, the new BoJ governor did his first speech that also give testimonials about the monetary sector performance improvement plans in Japan.

Technically, the index on the trading session today, Friday (22/03) likely strengthen, test positive trend. In M15 chart formidable bullish hammer provides an opportunity for the index to move upside. However, the volume is likely to increase, as well as an early indication of bullish index. In addition, RSI, on the M15 chart, is in oversold area, cue upside.

It is estimated, the index tested the first resistance level of 1623.57 and 1630.13. If it fails at 1614.90, the index is expected to tend to the next level Support reexamine the possibility of 1608.55 and continued to be in the area of ​​1601.81.

                            

Comments ‘dovish’ Kuroda Profitable Yen

The yen strengthened against the U.S. currency despite the Governor of the Bank of Japan, Haruhiko Kuroda, vowed to take any action in order to achieve the inflation target of 2% in about 2 years. Kuroda also said that the BoJ should not rely on currency movements to combat deflation.

Technically, the trading session today, Friday (22/03), the dollar yen pair has a chance to move in a negative trend.

A weaker yen is mainly expected to immediately re-examine the minimum Support at 94.26 and 93.71 maximum. Meanwhile, if the Yen able to break and hold above 94.91, then another alternative scenario that Yen opportunity to test existing Resistance 95.41 and 95.89 area.

                         

Soaring gold, Buru Commodity Investor Safe Haven

Gold prices for Friday’s trading again rose and touched its highest level in three weeks. Gold rebounded after the rise of the market. Markets back after commodity safe haven along with the worsening U.S. and European economic data marked by rising U.S. jobless claims and manufacturing data and a decline in European service sector.

Technically, gold trading session today, Friday (22/03) potential reversal, tested positive trend, but prone to profit taking. RSI indicator tends to re-test resistance bullish channel and into the area, but the Bollinger Bands are starting to shrink, thus giving impetus to gold to the downside.

Estimated gold price immediately prior to test resistance at least in the area of ​​1624.66 and re-test the maximum level of 1630.00. However, if the gold price could not break and stays below 1614.90 then predicted the gold price could potentially test the 1608.62 and 1602.88 Support.

                         

Market Analyse Thursday 21 march 2013

Gold Report 21^st March

Fed Reserve Chairman Ben Bernanke promised to continue with the stimulus programme and maintain near-zero rates stipulating low rates will prevail as long as the jobless rate remains above 6.5%. Gold would have benefitted from this statement if it wasn’t for rumours that the Bank of Japan new central governor may take a more aggressive policy stance when he speaks today. This caused the dollar/yen pair to appreciate somewhat.

Intra-day perspective looks bearish on this 15 min chart but as the 4 hour chart still shows bullishness with a recently printed hammer it is probable price will turn before today’s low of $1604.54 to form a higher low and subsequent reversal.

                      

A test of Wednesday’s high at $1615.77 is likely to occur before the weeks out which could be surpassed if there are any deepening concerns with Europe’s suffering economy after manufacturing PMI’s from France and Germany at 16:00 and 16:30 respectively today.

                      

On the downside for gold tonight the US existing home sales and Philly manufacturing index are scheduled so it may be prudent to reduce long exposure over these figures.

Market Analysis of Wednesday 20 March 2013

ANALYSIS 20-03-2013

Nikkei “Revolting”, Soar 2%

Japanese shares to trading closed Monday recorded increases. Amid concerns about the banking sector following the postponement Cypriot voting again on the country’s deposits of tax policy, the weakening of the yen against the dollar became lifter factor strengthening the Japanese stock market as shares of exporters.

Technically, the index on the trading session today, Wednesday (20/03) likely strengthen, test positive trend. In M15 chart formidable bullish hammer provides an opportunity for the index to move upside. However, the volume is likely to increase, as well as an early indication of bullish index. In addition, RSI, on the M15 chart, is in oversold area, cue upside.

It is estimated, the index tested the first resistance level of 11 996 and 12 018. If it fails at 11 965, we then estimated the index tends to re-examine the level of Support and continue until the 11 940 in the area is likely to be 11 916.

                               

Sterling prop up UK inflation data

Sterling moved away from daily lows against the U.S. dollar after the data showed UK inflation in February advanced to nine-month highs. Consumer price inflation grew 2.8% at an annual pace after hold steady at 2.7% since last October, according to the Office for National Statistics.

Technically, today’s trading session on Wednesday (20/03), the pair euro dollar likely to move in a positive trend.

The strengthening of the Euro is mainly expected to immediately re-examine the minimum resistance at 1.5177 and 1.5234 maximum. Meanwhile, if the Euro was unable to break and hold below 1.5103 then another alternative scenario the Euro likely to test the existing Support 1.5044 and 1.4996 area.

                              

Consolidated Gold, U.S. Dollar Strengthening Impact

Trading gold for Tuesday activities decreased due to the strengthening of the dollar movements in global financial markets. One dollar increment is also caused by the impact of the weakening euro after the currency of the European Union is depressed due to market concerns financial crisis in Cyprus.

Technically, gold trading session today, Wednesday (20/03) potential reversal, tested positive trend, but prone to profit taking. RSI indicator tends to re-test resistance bullish channel and into the area, but the Bollinger Bands are starting to shrink, thus giving impetus to gold to the downside.

Estimated gold price immediately prior to test resistance at least in the area of ​​1620.74 and re-test the maximum level of 1625.97. However, if the gold price could not break and stays below 1612.10 then predicted the gold price could potentially test the 1605.43 and 1600.20 Support.

                             

Jalatama Daily ANALYSIS 19-03-2013

Hang Seng Hit, Dragged Sentiment Cyprus Crisis

Hong Kong shares to trade on Monday closed down 2%. Drop in stock movement is caused by the presence of a considerable pressure from the actions of investors to sell shares along with the emergence of concerns about the banking system of Cyprus 9.9% tax will apply to the deposit holders.

Technically, the index on the trading session today, Tuesday (19/03) likely to weaken, test negative trends, the impact of Wall Street. In M15 chart formidable bearish engulfing 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 M15 chart, is in oversold area, cue upside.

It is estimated, the index tested the first level Support 21 850 and 21 722. If it fails at 22 047, we then estimated the index tends to retest the resistance level of 22,206 and is likely to be followed up in the area of ​​22 345.

                       

Sterling Was-Was Ahead of CPI Data

Sterling slipped versus the greenback ahead of inflation data on Tuesday, which is expected to show an increase from the previous month.

Technically, the trading session today, Tuesday (19/03), Sterling dollar pair has a chance to move in a negative trend.

The weakening of sterling primarily expected to immediately re-examine the minimum Support at 1.5017 and 1.4952 maximum. Meanwhile, when sterling was able break and stay above 1.5094, then another alternative scenario that is sterling opportunity to test existing Resistance 1.5163 and 1.5221 area.

                                

Shining Gold Banking Cyprus Amid Unrest

Gold prices to trade on Monday registered an increase. Gold is a safe-haven commodity sebaga really take advantage of the benefits amid the European financial situation back in shock as a result of the implementation plan 9.9% tax for the owners of the deposits in Cyprus in order to help the country out of the debt crisis.

Technically, gold trading session today, Tuesday (19/03) potential reversal, tested positive trend, but prone to profit taking. RSI indicator tends to re-test resistance bullish channel and into the area, but the Bollinger Bands are starting to shrink, thus giving impetus to gold to the downside.

Estimated gold price immediately prior to test resistance at least in the area of ​​1615.97 and re-test the maximum level of 1623.33. However, if the gold price could not break and stays below 1605.00 then predicted the gold price could potentially test the 1597.90 and 1590.77 Support.

                            

Oil falls on news of increased Saudi, Iraqi exports

Oil futures are tumbling to start the week in Asia on news that Saudi Arabia and Iraq increased production in January.

On the New York Mercantile Exchange, light, sweet crude futures for April delivery are off 1.11% at USD92.42 per ounce in Asian trading Monday. Helped by some strong U.S. data points, New York-traded oil futures tacked on 1.85% last week, the second consecutive weekly gain.

In the U.S., data on Friday showed that industrial production rose by 0.7% in February, beating expectations for a 0.4% increase. Data published last Thursday showed initial claims for jobless benefits fell last week by 10,000 to 332,000 claims. Analysts expected an increase to 350,000 claims. The less volatile four-week moving average fell by 2,750 to 346,750.

Traders appear to be looking past those data points today to focus on production news. According to the Joint Organisations Data Initiative, Saudi Arabia and Iraq, both members of the Organization of Petroleum Exporting countries, increased exports for the first time in three months in January.
Continue Reading....

EUR/USD keeps flirting with 1.29; soft dip buying so far...

After falling like a rock, there seems to be few courageous buyers willing to catch a falling knife in the early Asian session. EUR/USD has fractionally broken through 1.29 only to stabilize right above it.

Despite the fall may be interpreted as an opportunity to buy on dips after the excessive 160+ pips down-gap, looks like big players are delaying the timing of any counter-trend entry, as the proposed deposit tax in Cyprus set a 'dark' precedent for the rest of peripheral countries within the Eurozone, thus some may find a better option wait until the dust settles.Continue Reading....

Market Analysis of Monday 18 March 2013

Closed Kospi Slump Again, hard Stable

South Korean stock market on Friday trading was closed up. Unstable movement seen in the last 3 days earlier where the South Korean stock exchange had increased and made it through level 2000 basis points. However, these conditions do not last long these days karen stock fell back to a level of 1986 basis points.

Technically, the index on the trading session today, Monday (18/03) likely strengthen, test positive trend. In M15 chart formidable bullish hammer provides an opportunity for the index to move upside. However, the volume is likely to increase, as well as an early indication of bullish index. In addition, RSI, on the M15 chart, is in oversold area, cue upside.

It is estimated, the index tested the first resistance level of 266.15 and 269.03. If it fails at 263.05, we then estimated the index tends to retest the 260.31 level Support and continued until the area is likely to be 257.77.

                     

Euro Zone Agrees 10 Billion Euro Bailout Cyprus

International lenders to make a deal on Saturday to give Cyprus bailout worth 10 billion euros ($ 13 billion) to avoid bankruptcy, according to a senior official euro zone.

Technically, today’s trading session on Monday (18/03), the pair euro dollar likely to move in a positive trend.

The strengthening of the Euro is mainly expected to immediately re-examine the minimum resistance at 1.3238 and 1.3347 maximum. Meanwhile, if the Euro was unable to break and hold below 1.3071 then another alternative scenario the Euro likely to test the existing Support 1.2932 and 1.2802 area.

                        

Gold Prices Up To Price Weekly Top Two Months

The market is very supportive of gold prices rise on Friday where the first Asian markets have gone up, but a little further up on the European market since dat European inflation rose 2.3% in the fourth quarter of 2012, salaries rose 1.4% compared to an increase of 2% in Q3.

Technically, gold trading session today, Monday (18/03) potential reversal, tested positive trend, but prone to profit taking. RSI indicator tends to re-test resistance bullish channel and into the area, but the Bollinger Bands are starting to shrink, thus giving impetus to gold to the downside.

Estimated gold price immediately prior to test resistance at least in the area of ​​1601.94 and re-test the maximum level of 1610.24. However, if the gold price could not break and stays below 1591.50 then predicted the gold price could potentially test the 1583.34 and 1575.32 Support.