World Oil Sustain Kospi Performance
Along the South Korean stock market trading on Thursday, the Kospi index looks managed to maintain positive performance gained in early trade. Sentiment rising crude oil prices lifted shares of energy sector.
Shares of the energy sector is still the biggest positive contribution traded stocks on Thursday, where LG Chem shares 2.79%, SK Innovation 1:49%, S-Oil Corporation 1:41%, but it is reinforced by shares of Samsung Electrics by 0.26%, shares POSCO 4:03%, but is charged by Kia Motors 0:57%, and LG Electronics 00:47%.
Thursday’s Kospi index was able to close higher by 1:04 points, or 0.05% are, by becoming 1976.49 points from the closing position at the end of the previous stock exchange trading on the position of 1975.45 points and managed to record the largest positive performance Thursday at position 1989.07 and the lowest point at 1972.93 points position.
Likewise, the movement of the index futures Kopsi Thursday successfully closed up by 0:51 points, or 0:21%, with 239.29 points from the closing position at the end of trading the stock exchange prior to the position of 238.78 points and managed to reap the greatest advantage today in the position of 240.35 points and losses the largest in the position of 238.51 points.
Exchange traded South Korea this Friday, investors are expected to look forward and respond to the PPI data both annual and monthly basis in August last, with an indication of the results are quite disappointing.
While the movement of Kospi index on Thursday, where the line MA5 are still moving in the territory on BB10 H4, however the Stochastic indicator H4 that show indications of weakening trading on the stock exchange next, then Analyst estimates that the movement Kospi This Friday will potentially reverse direction to weaken by penetrating the first support at 238.75 points with MA5 position on BB10 H4, if the movement of the index broke through the first support is expected to try to penetrate the second support at 236.80 points with the position of the middle MA5 BB10 H4.
If the index movement succeeded to continue positive performance, it is expected to try to penetrate the first resistance at 241.35 points with MA5 position on BB10 H4, if the movement of the index broke through the first resistance is expected to try to penetrate the resistance at 243.45 points with MA5 position on BB10 DH4.
Technically, the indexes on the trading session today, Friday (18/09) 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 237.25 and 235.80. If it fails at 237.75, then the next index is expected to tend to retest the 238.00 resistance level and continued up to the possibility of being in the 238.50 area.
Euro Gains Against Dollar
The dollar fell against most of its rivals in the session Thursday after the Federal Reserve decided to keep interest rates unchanged alias. On the other hand, policymakers hinted that the first increase probably will not happen until 2016.
The dollar fell immediately after the Fed’s policy statement and economic forecasts were released afterwards. The Fed showed that most members of the committee setting the level of the central banks have pushed back their forecasts for the approximate trajectory of interest rates, and policy statements imply that the situation is uncertain.
In its statement, the Fed cited “global economic and financial developments recently”, especially about the global economic slowdown and stock market volatility in China are regarded as a threat to growth in the US. Policy makers also revised the long-term inflation is expected to be lower. The Fed signaled that they believe the US economy is still too fragile to accept higher interest rates.
EURUSD climbed to a session high of $ 1.1444 shortly after the completion Yellen press conference. Which marked the highest level for the common currency since August 26 and traded at $ 1.1421 after it rose 1.2% from the previous level of $ 1.1289 at the end of the session on Wednesday in New York.
Technically, the trading session today, Friday (18/09), the pair Euro-dollar likely to move in a negative trend.
The weakening of the Euro mainly expected soon reexamine the minimum support at 1.1350 and maximum 1.1300. Meanwhile, if the Euro is able to break and hold above 1.1410, then another alternative scenario the Euro a chance to test the resistance at 1.1430 and 1.1480 area.
Gold Cheer US Interest Rates Unchanged
Gold markets cheered after the Federal Reserve decided to keep its benchmark interest rate near zero level, although officials still want the majority of monetary tightening before the end of this year. Policy makers are still planning to establish a policy of monetary tightening before the end of the year. A total of nine US central bank policy makers opted to keep its benchmark rate at 0% to 0.25%.
The central bank focus on global concerns and a dovish tone in the Fed statement helped lift gold prices. However, the chances of higher interest rates still further threaten the gold market and the Fed is scheduled to return to vote related to monetary policy in October and December.
Gold prices were trading lower before the decision of the Federal Funds Rate, immediately surged to $ 1,131.73 daily. Gold prices continue rally for second straight session, closing up 1.1%, or about $ 12 at the level of $ 1131.22 per troy ounce.
Technically, gold on the trading session today, Friday (18/09) 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 1135.10 and re-test the maximum level of 1140.87. But if the gold price could not break and stays below 1130.80 then predicted gold prices could potentially test the Support 1127.78 and 1122.40.
