Nikkei Ends Weaker Due in Early Selling Existence
At the end of trading on the Japanese stock market yesterday, the Nikkei index closed down -347.06 points, or -1.80 percent, at 18,883.42. The weakening of the index due to a sell-off in Japanese stocks.
Earlier in the morning yesterday, the Bank of Japan released its quarterly Tankan Survey, a broad measure of manufacturing business sentiment, which beat market expectations. The main index for large manufacturers sentiment in December is at 12 points, unchanged from the previous quarter. For large non-manufacturers, the sentiment rose 2 points to 25 points for the same period. The positive results of this indicator data have not managed to lift the Nikkei index.
Japanese stocks at the close of trading, export-oriented stocks such as Toyota, Nissan, Honda, Sony all down, falling from 0.3 percent to 3 percent. Heavyweight shares such as Fast Retailing and Fanuc fell respectively 3.3 percent and 3.14 percent.
While the observed positive for the Nikkei index, up 70 points or 0.37% at 18.910, up from the previous trading at 18,840.
For Tuesday’s trading, there are no economic indicators to be released, but the need to keep close watch on developments in US interest rate hikes and the movement of crude oil prices.
Technically, the index on the trading session today, Tuesday (15/12) 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 18650 and 18600. If it fails at 18730, then the next index is expected to tend to retest the resistance level that is 18 780 and is likely to be continued until the 18830 area.
Sterling Conditions Corrected
Post-print strengthening two consecutive weeks, the pound sterling fell earlier this week. The lack of important economic data from both the UK and the United States made the focus fixed on the opportunities the US interest rate hike this week.
Prior to the Federal Reserve’s monetary meeting, both countries inflation data to be released on Tuesday may be a significant driving force. UK inflation is expected to rise 0.1% in November, while US inflation stagnated 0%.
Inflation is one of the central bank reference for each country, the Bank of England’s own estimates that inflation will remain low in the next few months is mainly due to the oil price.
While inflation in the US stagnant tentunnya will slightly shake expectations of rising interest rates, although the Fed itself is said to be more inclined to use the PCE price index as a measure of inflation.
Technically, the trading session today, Tuesday (15/12), 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 Price Mired of US Rate Decision
Gold prices settled at the lowest level in more than a week on Thursday as investors braced for meeting interest rate decision on Wednesday by Federal Reserve policy makers. Plunge in oil prices has also pressured gold prices, which lost 0.8% last week.
Gold for February delivery fell $ 12.30, or 1.1%, to $ 1,063.40 an ounce on the Comex, the lowest close since December 3. The price has been at its lowest level in six years below the level of $ 1,054 on December 2. Silver futures, meanwhile, settled at the lowest level since July 2009, with silver silver for March delivery fell 18.9 cents, or 1.4%, to further settle at $ 13.695 per ounce level. Prices for the metal lost 4.4% last week.
Technically, gold on the trading session today, Tuesday (15/12) 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 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 1069.10 and re-test the maximum level of 1074.87. But if the gold price could not break and stays below 1064.70 then predicted gold prices could potentially test the Support 1060.78 and 1055.40.
