Market Analysis wednesday 17th of April

ANALYSIS 17-04-2013

Hang Seng Index weakens, stocks tumbled Fares

In Tuesday trading yesterday the Hong Kong stock exchange closed anymore. Negative trend occurred since early morning trade exchange which stressed the impact of the movement of the majority of the performance decline scan the majority of the stock exchange in Asia and the impact anjloknya shares in the mine due to weakening oil prices.

Technically, the index on the trading session today, Wednesday (17/04) 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 21 473 and 21 351. If they fail at 21 667, then the index is estimated to tend to test further back resistance level that is 21 796 and the possibility of being extended to the 21923 area.

                          

Currencies Euro Drops Further Against Dollar, Confidence Institutional Investor and Analyst Deteriorating

In forex movements European session yesterday Tuesday, the Euro exchange rate generally indicate movement down against the U.S. Dollar after opening at 1.3052 in early trading (00:00 GMT) on the EURUSD pair. The value of the currency has dropped about -18 pips or about -0.13% and at the time this news was revealed on the rolling monitored 1.3034.

Technically, the trading session today, Wednesday (17/04), the pair euro dollar opportunity to move in a negative trend.

Predicted weakening of the Euro, especially immediately test back Support minimum and maximum that is at 1.3068 1.3004. And as, if able to break and last Euro above 1.3175, then the other alternative scenario ie Euro chance to test resistance at 1.3263 and 1.3339 area.

                           

LLG Gold Price Rises, Action Asia Buy Physical Gold

LLG gold prices rebounded due to increased purchases of physical gold in China and India due to low gold prices, and the Central Bank Srilangka, Korea, and Australia is planning to increase its gold proposal.

Technically, gold trading session today, Wednesday (17/04) 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 1437.82 maximum level of 1474.25. But if the price of gold can not afford to break and survive under 1377.70 then predicted the gold price potentially testing Support ie 1335.16 and 1302.05.