Market Analysis Monday 1st of July

Signs of rising demand

ANALYSIS 01-08-2013

Conditions Rally Still Happening in South Korean stocks

Positive trend occurred again in South Korea stock market. In trading Friday, the South Korean market was back in bullish trend due to the impact of a rise in U.S. stocks overnight is driven by the effect of lowering the jobless claims data for last week amounted to 7 thousand.

Technically, the index in the trading session today, Monday (01/07) is likely to strengthen, test positive trend. At the H4 chart informa bullish hammer gives an opportunity for the index to move upside. However, the volume is likely to increase, as well as an early indication of a bullish index. In addition, RSI, on the H4 chart, is in the oversold area, cue upside.

Expected, the index tested the first resistance level of 260.67 and 273.73. If it fails at 232.03, then the next index is expected to tend to retest the 232.03 support level and continue up the possibility of being in the 221.07 area.

Pound Down Under Analyst Predictions

Sterling in trade week is generally observed plainly shows weakening trend against the U.S. dollar. Trading the currency pair GBP / USD is in the range of 1.5386 after opening at the beginning of the trading week was down about -177 pips or about -1.15% and closed at around 1.5209.

Technically, the trading session today, Monday (01/07), Strerling couple of dollars likely to move in a negative trend.

Weakening Strerling primarily expected soon retest the support at 1.5025 minimum and maximum 1.4919. Meanwhile, if Strerling able to break and hold above 1.5204, then another alternative scenario Strerling the chance to test the existing Resistance 1.5313 and 1.5425 area.

Gold Rebound from Low 34 Months

Spot gold prices rebounded from 34-month lows, the biggest jump in a month, as signs of rising demand for jewelry, coins and bullion after the precious metal is headed to its biggest quarterly fall in at least 93 years old.

Technically, gold at today’s trading session, Monday (01/07) 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 ​​1267.33 and re-test the maximum level of 1295.91. However, if the gold price could not break and stays below 1229.35 then estimated the price of gold has the potential to test Support the 1196.35 and 1167.78.