Market Analysis friday 19th of April

ANALYSIS 19-04-2013

Kospi index plummeted, Touch Points 1900 Level

South Korean stock market for the trading day ended lower Thursday recorded two days earlier after an increase in a row. Exchanges are now experiencing significant negative movement following the investors’ concerns over global trade, especially in commodities markets declined considerably.

Technically, the index in the trading session today, Friday (19/04) 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 246.31 and 245.07. If it fails at 248.15, then the next index is expected to tend to retest the 249.59 resistance level and continue up the possibility of being in the 250.75 area.

                        

Outlook Gloomy British Sterling Shadowing

Although capable turned higher against the U.S. Dollar, Sterling remains vulnerable to further decline after the latest economic data maintain the prospect of monetary easing by the Bank of England.

Technically, the trading session today, Friday (19/04), Sterling couple bucks a chance to move in a negative trend.

Sterling weakening primarily expected soon reexamine the minimum support at 1.5221 and 1.5180 maximum. Meanwhile, if Sterling is able to break and hold above 1.5280, then another alternative scenario that Sterling has an opportunity to test the existing Resistance 1.5327 and 1.5363 area.

                        

Gold Prices End Up, Fueled Market Disappointment Over U.S. Economic Data

Gold prices rose in trading days ending last Thursday, the highest price of gold during this week. Rising gold prices this time after receiving support from the disappointment of the market would be U.S. economic data, including the index of regional manufacturing Philadhelpia, amid a sell-off that occurred.

Technically, gold at today’s trading session, Friday (19/04) potential reversal, tested positive trend, but prone to profit taking. Indicator RSI resistance likely to re-test the 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 ​​1438.28 and re-test the maximum level of 1468.84. However, if the gold price could not break and stays below 1392.70 then estimated the price of gold has the potential to test Support the 1363.33 and 1333.75.