Fed policy and the World Crude Oil Prices Strengthen Hang Seng
Started trading Hong Kong shares Thursday morning (19/3), the Hang Seng Index managed to continue the strengthening of the previous trading. The results of the policy committee meeting that the US central bank will raise US interest rates gradually and a reduction of US GDP growth and renewed strength in world crude oil prices into positive sentiment on the movement of the stock market this morning.
The movement of crude oil prices at the end of US trading session higher after weakening US dollar exchange rate despite the increase in US crude oil reserves, strengthen energy stocks in early trading today as the Kunlun Energy stocks rose exhibited significantly as 1:10%, PetroChina rose significantly as 1:33%, China Petroleum & Chemical rose at 0:50%, Hong Kong & China Gas Co Ltd exhibited significantly strengthened by 1:37%, and significantly strengthened CNOOC as 1:15%.
Shares of other amplifiers also come from the financial sector and housing as well as AIA Group’s shares rose significantly by 1.60%, Bank of China rose at 0.23%, China Life Insurance rose significantly at 0.93%, China Construction Bank rose at 0:47%, HSBC rose significantly by 1:06%, China Overseas Land & Investment rose at 0.23%, China Resources Enterprise to strengthen significantly at 0:53%, China Resources Land rose 0.40%, and New World Development rose at 0:11%
The movement of the Hang Seng Index opened higher Thursday morning by 166.88 points or 0.69% which is 24286.96 points from the previous closing position at 24120.08 points to reach the previous highs at 24201.75 points and the previous low at 23938.63 points. Similarly, the movement of the Hang Seng index futures opened higher this morning by 100 points or 0,42% which is 24 224 points from the previous closing position at 24,124 points to reach the previous highs at 24 222 points and the previous low at 23 911 points.
Based on the previous closing, then Analyst Vibiz Research Center estimates that the movement of the Hang Seng Index today will move diteritori positive by trying to break through resistance at 24 283 points with over 10 MA5 bolinger H4 and daily, if the movement of the index is able to break through resistance at 24 183 points, the estimated that the movement of the index will try to penetrate the next resistance at 24 348 points.
If the movement of the index is not able to penetrate the resistance at 24 183 points, then it is estimated that the movement of the index will try to penetrate the support at 24 063 points with the middle 10 MA5 bolinger daily, if the movement of the index is able to penetrate the support at 24 063 points, then it is estimated that the movement of the index will try to penetrate the next support at 23 908 points.
Technically, the index on the trading session today, Thursday (03/19) is likely to strengthen, test positive trend. At the M15 chart bullish hammer formation provides opportunities for the index to move upside. However, the volume of which is likely to increase, as well as an early indication of bullish index. In addition, RSI, the M15 chart, are oversold, signaling upside.
It is estimated, the index test the first resistance level of 24 470 and 24 423 24525. If you fail, then the next index is expected to tend to reexamine the level of support that is 24400 and continued until the possibilities are in the area of 24 350.
Positive Response pound sterling British Budget Speech
The pound responded positively to the UK after a budget report on Wednesday under pressure employment data and the unanimous decision of the Bank of England policy makers to maintain monetary policy. GBPUSD currency pair is now trading at around 1.4668, crawling up the daily lows of 1.4634 towards 1.4769 daily highs.
Chancellor of the Exchequer, George Osborne, lowering the government’s budget surplus targets and raised its forecast for growth in the UK confirms that the pace of economic recovery in the solid. Osborne to raise growth in the British economy by 0.1% to 2.5% in 2015 and 2.3% for 2016.
While the government’s annual budget was lowered to 90.2 billion pounds sterling for this year, compared to estimates in December amounted to 91.3 billion pounds.
Technically, the trading session today, Thursday (03/19), pound sterling-dollar pair a chance to move in the negative trend.
The weakening of the pound sterling primarily expected soon reexamine the minimum support at 1.4850 and 1.4800 maximum. Meanwhile, if the pound sterling was able to break and hold above 1.4907, then the other alternative scenario that Pound chance to test resistance in 1.4940 and 1.4990 area.
Gold Price Closed Jumping; Reference Interest Rate Hike will be Staged
Spot gold prices in late trading Thursday morning was observed a significant jump (19/3). The precious metal prices rose after the Fed pushed to signal that the benchmark interest rate hikes will begin in June, with very careful. This is a signal that the increase would not drastically and quickly.
Market players quite happy with the statement of the results of the Fed meeting early this morning. Fed opens the possibility of interest rate hikes starting in June. However, similar to stop the quantitative easing policy is achieved in stages, the increase in the benchmark interest rate will be gradual.
Gold, assets used as a safe haven amid low interest rates have declined by 3 percent since the beginning of this year. The weakening of the gold price was caused by expectations that the benchmark interest rate in the United States will be raised.
Spot gold prices at the end of trading early this morning closed at 1167.50 dollars per troy ounce. Spot gold prices posted a sharp increase of 16.20 dollars, or 1.41 percent compared to the previous closing at the level of 1149.30 dollars per troy ounce. Prices had reached the highest daily level in 1175.55 dollars per troy ounce which is the highest position since the 6th of March.
Comex gold futures prices at the close of trading early this morning also experienced a significant increase. Gold futures for April contract closed up by 0.3 percent on the position of 1151.30 dollars per troy ounce.
Analyst estimates that the spot gold price movements today LLG will again increased. In early trading this morning the price of gold was observed to have moved higher and again reached new highs since March 6.
In this har day trading price of gold could potentially test the resistance level at position 1180 dollars per troy ounce. If successfully penetrated the price will continue to rise again to the position in 1190 dollars. Meanwhile, if there is movement which turned lower price will test the support level at the position in 1165 dollars. If successfully penetrated the price will continue weakening to the position in 1160 dollars.
Technically, gold trading session today, Thursday (03/19) 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 1178.10 and re-test the maximum level of 1182.87. However, if the price of gold was unable to break and stays below 1173.90 then estimated the price of gold could potentially test the 1171.78 and 1169.40 Support
