Market Analysis Tuesday 11th of June

South Korean stocks rebound Thin

As with other stock markets in Asia, South Korea’s stock market movements on Monday closed an increase. Rising stock movement sustained by the sentiment of the purchase volume increases as the stock market movements have decreased significantly more than a week.

Technically, the index in the trading session today, Tuesday (11/06) likely to weaken, test negative trends, the impact of Wall Street. On the M15 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 M15 chart, is in the oversold area, cue upside.

Expected, the index tested the first support level ie 245.39 and 242.23. If it fails at 250.30, then the next index is expected to tend to retest the 254.48 resistance level and continue up the possibility of being in the 257.63 area.

Japan and Revised Credit Data U.S. Dollar Strengthen

The dollar rose against the yen on Monday driven by Japanese GDP data for the first quarter of 2013 amounted to 1% of the 0.9% forecast. The current account surplus increased from ¥ 340 billion to ¥ 850 billion for the first quarter of 2013. Bank lending grew 1.8% in May, better than the 1.7% the previous publications. These data raised the Japanese stock market, the Nikkei closed up nearly 5%, which usually makes the yen weakened, so the dollar strengthened.

Technically, today’s trading session on Tuesday (11/06), the dollar yen pair has a chance to move in a positive trend.

A stronger yen primarily expected soon reexamine the minimal resistance at 100.52 and 101.73 maximum. Meanwhile, if the Yen was able to break and stays below 98.66 then another alternative scenario that is likely to test support Yen’s in the area of ​​97.52 and 96.43.

China Economic Data Weakens, Gold Up

Gold futures on the COMEX division of the New York Mercantile Exchange rose slightly on Monday after Chinese economic data was weaker than expected.

Technically, gold at today’s trading session on Tuesday (11/06) 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 ​​1360.03 and re-test the maximum level of 1343.13. However, if the price of gold is able to break and hold above 1384.70 then estimated the price of gold could potentially test the Resistance 1402.82 and 1419.15.