KOSPI Up 10.89 Points
South Korea’s trade exchanges Kopsi rose on Monday (29/12) although the Korean stock decline.
KOSPI index rose 10.89 points to 1.937.27, KOSDAQ index rose 1.96 points to 537.13.
South Korean shares fell from the financial industry.
Stock trading South Korean Kospi closed Up, Friday (26/12) post-natal and yet crowded market.
KOSPI index rose 1:55 points to 1.948.16, KOSDAQ index rose 1.72 points to 535.17.
South Korean companies in the observed decline in this year, sales growth in more than five years in the third quarter of this year triggered from currency exchange rates are not favorable and weakening exporters hit oil prices, as reported by the central bank today, raises concerns over growth sluggish.
Technically, the index on the trading session today, Monday (29/12) likely to weaken, test negative trends, the impact of Wall Street. At the M15 chart bearish engulfing formation provides opportunities for the index to move downside. However, the volume tends to rise, early indications bullish index. In addition, RSI, the M15 chart, are oversold, signaling upside.
It is estimated, the index test the first support level that is 246.90 and 244.10. If it fails at 248.60, then the next index is expected to tend to retest the resistance level of 249.90 and continued until the possibilities are in the 251.10 area.
The Fragile Middle Euro Anxiety In Early Greece Elections
The euro traded 0.1% of two-year lows amid Greek Prime Minister trying to get candidates for president and avoid the risk of early elections lifeline cut off the country from the international community.
Currency Australian and New Zealand fell after data showed China’s industrial profit, which is the country’s largest trading partner in the South Pacific, declined. The yen weakened for a second day amid speculation that the central bank will announce a stimulus to depreciate the currency in an effort to generate economic growth in the country.
“The euro threatened to break through the bottom level back,” said Stan Shamu, a market analyst at IG Ltd. in Melbourne. “Chaos further than Greece would not be good for Europe on all sides.”
The euro fell by 0.1% to $ 1.2180 at 8:07 pm. The euro depreciated to $ 1.2165 on December 23, it is the weakest level since August 2012. The yen slid to 120.50 against the greenback, from 120.31, on 26 December.
The Australian dollar fell 0.1% to 0.8113 per US dollar. Meanwhile, the New Zealand currency weakened 0.2% to 0.7747.
Greek Prime Minister Antonis Samaras on this day will make a third attempt and also the last. The MPs will vote at noon today in Athens with Samaras requires 180 voices of the 300 seats in parliament to appoint candidates that Stavros Dimas, as head of state.
If Dimas failed to be elected, it will lead to a general election will take place in late January or early February, it was several weeks before the end of his country’s bailout of 240 billion euros (292 million).
Technically, the trading session today, Monday (29/12), the pair Euro-dollar likely to move in the negative trend.
The weakening of the Euro mainly expected soon reexamine the minimum support at 1.2130 and 1.2080 maximum. Meanwhile, if the Euro is able to break and hold above 1.2187, then the other alternative scenario that Euro chance to test resistance in 1.2200 and 1.2250 area.
Gold Up Thin Sustained By China Reports
2014 was already in a matter of days, the price of gold on the trade to move up a high-level touch, Monday (29/12) maintaining the advantages of the previous session.
Spot gold for February delivery climbed 0:04% to a level of $ 1.195.80, in intraday, is at a low level of support and resistance levels 1.192.50 $ 1.196.80 high.
The increase in the price of gold is supported by reports of the use of Chinese as the top consumer of precious metals last week, where the state is considering a change of policy to revive the economy by allowing banks to borrow and invest more.
While the price of oil remains decreased, making gold as a hedge against inflation led down the dollar. As for the other metals, silver for March delivery rose 0.041% to a level of 16 188, 16 053 in the lower level of support and resistance levels high in 16 223
Technically, gold trading session today, Monday (29/12) the potential reversal, tested positive trend, but prone to taking profit. RSI indicator tends to re-test resistance and aiming the bullish channel, but Bollinger Bands that began to shrink, thus giving impetus to the gold to the downside.
It is estimated that the gold price immediately prior to test resistance in the area of at least 1200.10 and re-test the maximum level of 1205.87. However, if the price of gold was unable to break and stays below 1195.30 then estimated the price of gold could potentially test the 1193.78 and 1190.40 Support.
