Best Hang Seng Record Rise
Hang Seng jumped more than 2 percent on their best day in six weeks, inspired by solid gains overnight in US and European markets.
Some analysts said the rebound driven mainly by technical factors, and remain concerned about the near-term outlook given the background of China’s flagging economy and rising US interest rates perhaps as early as next month.
HSI rebound will not last long according to the analysis of hong kong.
Analysts also said that the recent pattern in Hong Kong has rebounded sharply after many sessions sluggish, but then the index will go lower again.
Most sectors in Hong Kong rose, with energy stocks and financial stocks leading. HSI has been oversold for most of this month, according to the relative strength index.
According to analyst estimates for zinc hang today’s trading will be weakened in the support area around 20300-20050.
Technically,
Resistance: 20420 20500 20570 High / Low: 20408/20097
Support: 20300 20210 20050 Closed Price: 20356
Comment: For intraday trade today suggest Sell at 20 410; stop loss at the level of 20 460; target at 20 110.
Aussie Weakens Against US Dollars
Aussie dollar weakened against the US dollar after successfully recorded a rise in the previous session due to an increase American trade deficit.
The US dollar overshadowed request back pressure when the American trade deficit has increased, the seasonally adjusted -57.5B in April from -57.1B in March, according to a report from the Bureau of Economic Analysis.
Australian private capital expenditure report scheduled for release today.
Survey of economists forecast that private capital expenditure in Australia will drop by 3.2% in the first quarter.
This makes the forex market movements and global commodity price shifts the potential turmoil.
However, analysts forecast today aussie will be strengthened in the area of ​​resistance around 0.7230-0.7310.
Technically,
Resistance: 0.7230 0.7270 0.7310 High / Low: 0.7189 / 0.7180
Support: 0.7140 0.7100 0.7050 Running Price: 0.7183
Comment: For intraday trade today suggest Buy at the level of 0.7135; stop loss at the level of 0.7100; targets 0.7233.
Crude Oil Rises Towards $ 50
Crude oil prices rose slightly pushed US government data reported larger than expected decline in US crude inventories.
The Energy Information Administration (EIA), the US claimed crude inventories fell 4.2 million barrels in the week to May 20th.
Trend bullish oil has been estimated in recent weeks crude oil will rise to $ 50 per barrel or more, after the current global crude oil decreased almost 4 million barrels per day due to forest fires in the Canadian oil sands, the economic crisis OPEC members Venezuela and a spate of violent attacks against the energy industry Libya and Nigeria.
The strike in France which paralyzes the production of most countries in the eight refineries have had little impact so far on the price of crude oil, but to help lift refining margins for diesel and gasoline.
According to analysts in today’s trading in crude oil prices may decline with sentiment decline in supply.
Technically,
Resistance: 50.00 50.50 51.00 High / Low: 49.62 / 49.57
Support: 49.10 48.60 48.11 Running Price: 49.60
Comment: For intraday trade today suggest Sell 50.20; stop and reversal during a break above the 50.50; targets at the level of 48.90 and target of reversal at the level of 51.80.
