World Oil Chinese Pressure Hangseng Movement
Throughout the stock exchange trading in Hong Kong on Thursday, the Hang Seng index movement looks still under pressure both by the drop in world oil and China’s poor sentiment, released at the beginning of the stock market trading this morning.
Oil stocks in the country remains the greatest pressure until the end of stock market trading on Thursday, where CNOOC hit by -6.58%, -5.08% PetroChina shares, stock Kunlun Energy -3.78%, China Shenhua Energy shares -2.20%, shares of China Petroleum & Chemical-2:42%, shares of Hong Kong & China Gas -1.95%, besides co-subverted by shares of China Resources Land -5.02%, -4.75% stock Sands China, Lenovo shares -4.82%, China Overseas Land & Investment -4.29 %, and the stock Galaxy Entertainment Group -3.36%.
The Hang Seng Index on Thursday suffered a loss of 568.81 points or 2:57%, by becoming 21562.50 points from the closing position at the end of the previous trading at 22131.31 points position and managed to record the day’s biggest gains on the position of 22228.59 points and a loss of 21 529 , 81 points.
Similar to the movement of the Hang Seng index futures Thursday that recorded a decline sharply by 534 points or 2:43%, to be 21 471 points from the closing position at the end of the previous trading at position 22 002 points and managed to reap a profit of 21 698 points, but a loss of 21 377 points.
Hong Kong shares in trading Friday, investors will return manantikan and respond to the results of the performance of the US stock market and the movement of world oil prices, which is due to landing lonely sentiment in the country.
Technically, the index on the trading session today, Friday (11/09) 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 increase, an early indication of bullish index. In addition, RSI, the M15 chart, was oversold, signaling upside.
It is estimated, the index test the first support level 21400 and 21350. If it fails at 21 469, then the next index is expected to tend to retest the resistance level 21490 and continued until the possibilities are in the 21540 area.
Pounds Observed Gains
Movements in the currency markets Thursday, the pound is still observed to strengthen against the US dollar after the release of the latest policy report from the Bank of England and the American economy this evening.
The course of trading in the European session, the pair GBPUSD rose 12:18% to trade at 1.5395.
Pound sterling managed to survive to be observed in the positive zone after the release of a British and US economic reports. In the UK, market participants have been presented with a report by the Central Bank policy meeting UK.
In the report, the Bank of England has decided to keep interest rates are at a low level of 0.5% on the results of a policy meeting in September. Bank of England considers that the development of the global economy has not completely – completely change the projected growth in the UK economy. However, a decrease in the risks to global economic activity will probably increase and this will continue to be monitored more closely.
Meanwhile in the US, market participants have been faced with an official report released by the US Labor Department said that the number of jobless claims has experienced a decline of 6,000, which is a seasonally adjusted 275k from 282K in the preceding week.
At the same time, the official report released by the US Bureau of Labor Statistics states that US import prices have decreased by 1.8% in August, after a natural decrease of 0.9% in July.
Technically, the trading session today, Friday; at (11/09), pound sterling-dollar pair has an opportunity to move in a negative trend.
The weakening of the pound sterling mainly expected soon reexamine the minimum support at 1.5380 and maximum 1.5300. Meanwhile, if the pound sterling was able to break and hold above 1.5438, then the other alternative scenario that is Pound chance to test resistance in 1.5460 and 1.5510 area.
Gold Rebound of Lowest Level One Month
Gold rose on Thursday, and rose from the lowest level of the month. A weaker dollar helped gold rise, but as expected by analysts before, gold moved within narrow ranges ahead of a Federal Reserve monetary meeting next week.
Market participants continue to look for clues to predict the results of the Fed meeting. Anxiety about slowing economic growth in China and the varied economic data adds to the uncertainty of the time of rising interest rates in the US.
Attract investors towards gold is still low, asset holdings in the SPDR Gold Trust, the biggest gold-based ETF in the world, fell 0.61% to 678.18 on Wednesday, becoming the biggest decline in almost six weeks.
Gold on Thursday trading ended at the level of $ 1110.53 per troy ounce, with a trading range $ 1103.94 – $ 1115.05.
Technically, gold on the trading session today, Friday (11/09) potential reversal, testing positive trend, but prone to profit taking. RSI indicator tends to re-test resistance and aiming the bullish channel, but Bollinger Band begins to shrink, thereby 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 1116.25 and re-test the maximum level of 1121.50. But if the gold price could not break and stays below 1111.20 then predicted gold prices could potentially test the Support 1108.50 and 1103.25.
