Hang Seng Crooked Down
Strong pressure in early trade Hong Kong shares on Tuesday, appears to be still rolling up to the end of trading, the Hang Seng index to be closed freefall of strengthening trading on the previous weekend, where the weakening today still dikarenkan by the worsening of the world commodity prices in world oil prices.
Looks entire stock market movements Hongkong managed to incriminate Tuesday, which was led by the energy sector stocks such as China Shenhua Energy shares amounted to -5.28%, -5.59% shares Kunlun Energy China Petroleum & Chemical -7.25%, -6.49% stake PetroChina, CNOOC -7.69%, than that charged by the stock Sands China -9.35%, shares of Galaxy Entertainment Group -6.98%, -5.65% Lenovo shares.
The movement of the spot Hang Seng index closed fell back by 629.72 points, or -2.97%, to be 20556.60 points from the closing position at the end of the previous stock exchange trading on the position of 21286.32 points and managed to record the highest increase earlier traded at 20579.22 points and the position lowest at 20368.12 points position.
Likewise, the movement of the index futures Hang Seng Tuesday were also closed fallen by 760 points, or 3:58%, to be 20 443 points from the closing position at the end of trading stock exchanges previously at position 21 203 points and managed to record the biggest gain traded today at position 20 598 points and the daily low at 20,250 points position.
Continue on the Hong Kong stock market trading Wednesday, estimated that investors will get back forward and respond to the results of the closing of the US stock market performance and the movement of world oil prices tonight, which is due to very lonely landing sentiment in the country.
Technically, the index on the trading session today, Wednesday (30/09) 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, the M15 chart, was overs old, signaling upside.
It is estimated, the index test the first resistance level of 20500 and 20550. If it fails at 20 447, then the next index is expected to tend to retest the support level that is 20 410 and continued until the possibilities are in the area 20 350.
Sterling Stuck in the Red Zone
The pound sterling has not been able to get up after a record decline in seven days in a row until Monday. The British currency is still in the red zone, ahead of a speech the Governor of the Bank of England (BoE), Mark Carney, early morning.
Mark Carney earlier call will seriously discuss a rate hike at the turn of the year, fueling speculation that interest rates will be raised at the beginning of next year.
Post interest rates by the US Federal Reserve monetary meeting this month, the Bank of England are also expected to postpone the rate hike. BoE is now expected to raise interest rates by the middle of next year.
Carney in a speech later at Lloyds of London offensive on the issue of interest rates, sterling volatility will increase. GBPUSD traded the range of 1.5161 at 21:31 pm, with daily highs 1.5205, and 1.5128 lows
Technically, the trading session today, Wednesday (30/09), 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 1.5100 and maximum 1.5050. Meanwhile, if the pound sterling was able to break and hold above 1.5154, then the other alternative scenario that is Pound chance to test resistance in 1.5180 and 1.5230 area.
Gold Decline Lower
Gold futures were relatively flat at the close of the session Tuesday amid stable dollar due to a rise in interest rates by the Federal Reserve and fears of a recession in China is still the focus.
On the Comex division of the New York Mercantile Exchange, gold for delivery in December traded in a tight range between $ 1,123.90 and $ 1,134.30 before down $ 1.50 or 0.13% to settle at $ 1,130.20. On Monday, the precious metals experienced one of the worst one-day decline in September, which fell more than 1.25% amid further indications from the Fed will raise short-term interest rates before the end of this year.
Investors continue to analyze a strong indication from the FOMC that it may raise the benchmark Federal Funds Rate sometime in October or December. On Monday, New York Fed President William Dudley, said that the Fed is really serious to raise interest rates before the end of this year. These comments followed after hawkish comments from Janet Yellen last week in terms of accelerating inflationary pressures, as the labor market continues to provide a boost to employment.
Long-term inflation remained below the goalpost Fed target of 2% for every month during the last three years. The increase in interest rates is seen as bearish for gold, which is struggling to compete with high yield bearing assets.
Meanwhile, silver for December delivery rose 0.072 or 0.50% to $ 14.610 per ounce. Copper for December delivery edged down 0.001 or 0.03% to 2,251 per pound.
Technically, gold in today’s trading session on Wednesday (30/09) 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 1121.33 and re-test the maximum level of 1115.73. However, if the price of gold is able to break and hold above 1126.90, the predicted gold prices could potentially test Resistance ie, 1129.40 and 1135.72.
