Hang Seng Mute of Weakening World Oil
Hong Kong shares this Tuesday (28/4) still continuing gains in early trading by the performance of financial stocks managed to dampen sentiment the fall in oil prices in world crude oil prices hit energy shares.
The movement of stock weakened by energy stocks such as CNOOC shares closed down significantly by 0.89%, China Petroleum & Chemical shares closed down significantly by 4.85%, shares of Hong Kong & China Gas closed lower by 0:45%, Kunlun Energy’s shares closed lower significant of 1.05%, as well as PetroChina shares which closed down significantly by 4.70%.
But financial stocks were able to compensate by moving to strengthen as the Bank of China shares closed up significantly by 1:46%, shares of Bank of Communications closed significantly higher at $ 1.15, shares of Bank of East Asia closed higher by 0:45%, shares of China Construction Bank closed up significantly by 1.85%, Hang Seng Bank shares closed higher by 0:13%, shares of Industrial & Commercial Bank of China closed up significantly by 1:32%, and Ping An Insurance shares which closed up significantly by 1:55%.
The movement of Hang Seng index today closed up by 9:16 points, or 0.03%, which is 28442.75 points from its previous close at 28433.59 positions to reach the highest point at 28548.45 and the lowest point at 28251.99 points. Likewise, the movement of the Hang Seng Index futures today closed higher by 22 points or 0:09% which is 29 448 points from the previous cllosing position at 29 422 points to reach the highest at 28,510 points and the lowest was 28 231 points.
Fundamentally trading on the Hong Kong stock exchange Wednesday tomorrow will be moving down to respond to the results of the data releases trade balance report Hongkong in March were negative.
Technically, the index likely to weaken on the trading session today, Wednesday (29/04), 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 of which is likely to increase, early indications bullish index. In addition, RSI, on the M15 charts, is oversold, signaling upside.
It is estimated, the index test the first support level that is 28 350 and 28 408 28280. If it fails in, then the next index is expected to tend to retest the resistance level that is 28 430 and continued until the possibilities are in the 28480 area.
EURO Fundamental Analysis, Retreat Limited
Euro today (01:10:36 GMT, Wednesday, April 29, 2015) fell after opening at 1.0978 in early trading (0000 GMT) was down around -6 pips or about -0.06%. Value rolling EURUSD looks to be at 1.0971.
Euro currency observed negative move ahead of the announcement the German statistics office, Destatis about the latest developments in the consumption sector in Germany. Some economists suspect that the report will be announced can show developments are not encouraging.
Indicators of economic fundamentals German Prelim CPI m / m is expected to give a sign less profitable and could be expected to go down to the numbers – 0.1% of the value of the previous period is 0.5%. The euro was observed to move down early to respond to these developments.
Analysts suggested daily forex fundamental analysis Euro exchange rate that normal range on the Euro currency is estimated to have the support level at 1.0892 and the resistance level at 1.1024.
Technically, the Euro-dollar pairs likely to move in a negative trend on the trading session today – Wednesday (29/04).
The weakening of the Euro mainly expected soon retests the support at 1.0925 minimum and maximum 1.0850. Meanwhile, if the Euro is able to break and hold above 1.0972, then the other alternative scenario that Euro likely to test resistance in 1.1000 and 1.1060 area.
Gold Closed at Highest Level 3 Week
Strengthening gold on Tuesday and ended at three-week high, boosted by a weaker dollar as investors await the Federal Reserve’s monetary policy announcement on Wednesday local time.
The dollar weakened after data showed US consumer confidence fell in April, and to be the lowest since December. Conference Board reported consumer confidence fell to 95.2, from last month at 101.4, and 102.6 to break into increase expectations. The decline occurred as a result of the American people judge the declining labor market conditions and the economy.
Traders are also watching developments talks Greece’s debt problems after Prime Minister Alexis Tsipras reshuffle negotiators team, which is expected to move closer to reaching an agreement disbursement of aid funds.
Despite strong gains in two consecutive days, but SPDR Gold Trust, the biggest gold-based ETF in the world, reported a decline in asset ownership by 0.44% to 739.07 tons on Monday, the decrease is the first in the last two weeks.
Gold on Tuesday closed at $ 1,212.10 per troy ounce, with daily highs and lows $ 1,214.95 $ 1,199.13.
Technically, gold in today’s trading session on Wednesday (29/04) potentially bearish, tested negative trend back, but prone to reversal. RSI indicator tends to re-test support channel and towards the oversold area, but Bollinger Band begins to widen, thus giving impetus for gold to the upside.
It is estimated that the gold price immediately prior to test support in the area of at least 1205.25 and re-test the maximum level of 1200.10. However, if the price of gold is able to break and hold above 1210.70, the estimated price of gold could potentially test the Resistance 1202.80 and 1206.90.
