Early Kospi Week Opened Positive By Current Account Data
Seoul shares Monday morning at the beginning of the month of May (4/5), the Kospi index opened higher on the weakening successfully traded the previous weekend. Positive fundamental data results before the stock market opened, reinforcing sentiment in early trading this morning the stock market.
Results of data releases both in South Korea Current Account in March were very surprised by showing significant improvement with successful dismissed on the results of the previous release as well as expectations about the growth of the economists, as well as the results of the release in April HSBC Manufacturing PMI which is expected to show an increase from the results of release previously. From the results of these data releases, helped strengthen the blue-tier stocks exchange in early trading this morning.
Blue-tier stocks are stocks that Hyundai Elevator Affiliate Hyundai opened racing at 6:41%, Hyundai Motor shares opened significantly higher at 1.80%, Kia Motors shares opened significantly higher by 2%, stocks such as LG affiliate LG Uplus is opened rose significantly by 1.90%, LG shares rose significantly Innnotek which opened at 1.83%, shares of Daewoo International, which opened up significantly by 2:45%, and Samsung Pharmaceutical shares opened bolted at 14.73%.
The movement of Kospi index opened higher this morning at 6:23 or 0:30% points being 2134.51 points or 2127.17 points to reach the previous highs at 2136.90 points and the previous low at 2121.29 points. Likewise, the movement of Kospi index futures opened higher this morning at 1:15 or 0:43% points 267.57 points adai the previous closing position at 266.42 points by reaching the previous high at 267.57 points and the previous low at 265.85 points.
Based on the close of trading on the stock exchange before, then Vibiz Analyst Research Cente estimate that this morning’s Kospi index movement still will penetrate support at 264.95 with BB10 bottom MA5 daily, if the movement of the index broke through the first support is expected to try to penetrate the next support at 263.30 points with MA5 under BB10 daily.
If the movement of the index reversed course to strengthen, it is predicted that the movement will try to penetrate the resistance pada267.65 points by the middle MA5 BB10 daily, if the movement of the index broke through the first resistance is expected to try next resistance at 268.60 points by the middle MA5 BB10 daily.
Technically, the index on the trading session today, Monday (04/05) 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 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 268.10 and 267.80. If it fails at 269.00, then the next index is expected to tend to retest the 270.10 resistance level and continued up to the possibility of being in the 271.50 area.
Retreat, Pound Moving Down
Sterling in trading last week showed a trend observed generally weakened against the US Dollar. Trading currency pair GBP / USD is once opened in the range of 1.5177 in early trading week has fallen by around -39 pips or about -0.25% and closed at around 1.5138.
Analysts suggested that the weakening of the currency Sterling this week related to reports of economic research institutions and businesses to the public Markit reported that the manufacturing sector in the UK weakened.
The development is indicated by a decrease in fundamental indicators Manufacturing PMI figures which fell to 51.9 from the previous period is 54.4. Unfavorable report showed lower performance than the estimated number of economists, who forecast will show the number 54.6.
In trading in the coming week (May 4 to 9), the normal range of GBP / USD weekly is expected to have the support level at 1.4991 and then at 1.4855 then. While the resistance level at 1.5388 and then at 1.5638.
The movement of the currency pair is expected to be influenced by several economic data releases which include: Halifax HPI m / m and Construction PMI.
Technically, the trading session today, Monday (04/05), pound sterling-dollar pair has an opportunity to move in a negative trend.
The weakening of the pound sterling mainly expected soon re-examine the minimum Support at 1.5100 and maximum 1.5040. Meanwhile, if the Pound able to break and hold above 1.5156, then the other alternative scenario that is likely to test resistance Pound in 1.5170 and 1.5225 area.
Gold prices in the Green Zone After Falling Into Low Level 6 Weeks
Metal commodity exchanges trade futures on Monday (4/5), the price of gold and silver was observed to increase after a natural decline sharply to a low level in 6 weeks, when the market was focused on the price movement of the US dollar on speculation rising interest rates in the Americas region ,
Ongoing trade in the Asian session, gold futures for June delivery was trading higher by 0.29% recorded an increase in the level of $ 1.178.00 per troy ounce on the Comex division of the New York Mercantile Exchange. On this morning, the price of gold has moved touched a session low $ 1.176.90 to $ 1.179.20 level daily and daily highs for the session.
Meanwhile, silver futures for July delivery traded higher by noting 0:36% increase in the level of $ 16,197 per troy ounce. The price of silver this morning has been observed to move touched a session low $ 16,133 to $ 16,197 daily and the level of daily highs for the session.
The price of gold looks retrying gains this morning, after declining sharply to a low level of 6 weeks since last Friday when speculation over interest rate hikes in the US had turned market attention to monitor the movement of the dollar price.
On Friday, the US dollar seen rising demand amid signs that US economic growth will be stable after recent natural attenuation.
US economic growth has been characterized by an increased US manufacturing activity in April, which is based on the official report from the Institute for Supply Management stated that the US Manufacturing PMI looks stable seasonally adjusted 51.5 in April from 51.5 in March.
Meanwhile this morning the market will be faced with a formal report of Chinese manufacturing activity and building permits in the area of Australia, which is where the data is expected to provide shocks to the movement of metal prices.
If the report is depressing prices for the dollar weakened, the chances of gold futures prices continue rising given the movement can occur both tend to be opposed to each other. However, if the economic reports pushed the US dollar has strengthened, then the metal futures prices potentially decreasing.
Technically, gold on the trading session today, Monday (04/05) the potential reversal, testing positive trend, but prone to profit taking. RSI indicator tends to re-test resistance and aiming the bullish channel, but Bollinger Bands began to shrink, thus giving impetus for gold to the downside.
It is estimated that the gold price immediately prior to test resistance in the area of at least 1187.25 and re-test the maximum level of 1191.50. But if the gold price could not break and survive below 1182.10 then predicted gold prices could potentially test the Support 1180.90 and 1175.10.
