Kospi Successfully Rise Back
Early in the South Korean stock market trading Thursday morning (28/5), the Kospi successfully opened higher than previously traded weakening pressure. Leading shares turned positive after earlier traded great distress appears to be a strong driver of other stocks.
The leading stocks such as Samsung SDS stocks opened flew 6:17%, shares of Samsung C & T shot 3:46%, Hyundai affiliate shares that Hyundai Elevator jumped 2.82%, shares shot Pharmaceutical Ilyang 12:07%. However, Samsung electronics stocks this morning appears to be still open slumped 3:52%, Hyundai Motor shares slumped 1.88%, as well as KIA Motors shares opened shrinking 0:21%.
The Nikkei index opened 10.66 points, or 0:51 streaking% 2118.16 points from the previous closing position at 2107.50 points and reached the highest position in the previous trading dipenutupan 2134.95 and the lowest point at 2103.64 points previously.
Likewise, the Kospi index movement seems open futures surged 1:07 or 0:41% points the position of 261.23 points from its previous close at 260.16 points and reached the highest position at the end of the previous trading at 264.22 points and the previous low at 259.72 points.
Based on the results of the previous closing, the analyst estimated that the Kospi index movement today seems to still be trying to reverse direction to penetrate resistance Mining, at 260.50 points with under BB10 daily MA5, if the first resistance level is successfully penetrated then expected to try to penetrate the next resistance at 261.70 points with MA5 under BB10 daily.
If the movement of Kospi index managed to turn around the direction of weakening, it is estimated that the movement of the index will try to penetrate the support back at 258.70 points with MA5 under BB10 daily, if the movement of the index broke through the first support is expected to try to penetrate the next support at 257.40 points with under BB10 daily MA5 ,
Technically, the index on the trading session today, Thursday (28/05) likely to strengthen, test positive trend. At the M15 chart bullish hammer formation to provide opportunities for the index to move upside. However, the volume tends to increase, as well as an early indication of bullish index. In addition, RSI, on the M15 charts, is oversold, signaling upside.
It is estimated, the index test the first resistance level of 261.90 and 263.10. If it fails at 261.30, then the next index is expected to tend to retest the support level 261.00 and continued until the possibilities are in the 259.80 area.
Greece Back Strengthen Euro
The euro turned higher after rumors will be reaching agreement Greece’s debt problems. Nevertheless the strengthening of the euro still looks limited. Athens government officials reported began to make the concept of an agreement with the creditors, including the low surplus target in the first year, the absence of salary and pension cuts, as well as the investment package.
Meanwhile, PM Greece, Alexis Tsipras said to have made some breakthroughs, and a little longer to reach an agreement, and will soon announce the details of the agreement. However, Tsipras added there are still differences between the approach of the creditors of Greece.
EURUSD which earlier touched an intraday low of 1.0818 Turning briefly rose to a level of 1.0890, before trading the range 1.0873 at 21:52 pm.
Technically, today’s trading session on Thursday (28/05), the pair Euro-dollar likely to move in a positive trend.
The strengthening Euro is mainly expected to immediately re-examine the minimal resistance at 1.0970 and maximum 1.1050. Meanwhile, if the Euro unable to break below 1.0915 and then survive another alternative scenario will be Euro likely to test support in 1.0880 areas and 1.0825.
Slowing Dollar Rate, Gold Price Gains
Gold was able to move away from 2-week lows on Wednesday as the US dollar tends to weaken after moving posted the biggest daily rise in two years. However, expectations of rising US interest rates this year still limiting the recovery of the gold price.
On the previous day gold recorded its biggest daily decline this month, with a drop of about 1.7%, after the US data was stronger than expected supports the view that the Federal Reserve will begin to raise interest rates this year; which will be able to erode the appeal of non-yielding assets such as bullion.
While the sharp drop in gold prices on Tuesday also appear to be not much stimulate demand from Asian consumers are sensitive to price, according to some dealers.
Technically, gold on the trading session today, Thursday (28/05) 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 1193.25 and re-test the maximum level of 1198.10. But if the gold price could not break and survive below 1188.40 then predicted gold prices could potentially test the Support 1185.80 and 1180.70.
