Trying Nikkei Rise In Early Morning Trade Wednesday
Shares of the aviation sector led the gains today after crude oil prices fell sharply in trading yesterday. ANA Holdings, the second largest airline in Asia, this morning jumped sharply by 4.3 percent and became leader of the increase in stocks in the Nikkei 225.
Technically, the index on the trading session today, Wednesday (15/10) likely to weaken, test negative trends, the impact of Wall Street. On the bearish engulfing formation M15 chart gives an opportunity for the index to move downside. However, the volume is likely to increase, an early indication of a bullish index. In addition, RSI, on the M15 chart, are oversold, signaling upside.
It is estimated, the index tested the first support level of 14900 and 14960 14850. If failed, then the next index is expected to tend to retest the resistance level of 15000 and continued up to the possibility of being in the 15050 area.
German Economic Sentiment Euro Press
The euro moved lower against the dollar after German economic sentiment slumped, adding to the negative sentiment for the currency bloc of 18 countries amid the shadows of the economic slowdown. EURUSD is currently trading around 1.2649 away from daily highs 1.2747 (Monex Trader platform).
Technically, the trading session today, Wednesday (15/10), the pair euro dollar likely to move in a negative trend.
The weakening euro is mainly expected to immediately reexamine the minimum support at 1.2580 and 1.2530 maximum. Meanwhile, if the Euro was able to break and hold above 1.2636, then another alternative scenario that is likely to test Resistance Euro is in the area 1.2650 and 1.2700.
Gold prices on the Comex Closed Mixed, German Economic Sentiment Fell Exceeding Expectations
Spot gold prices on the Comex close of trading on Tuesday closed lower observed early this morning. The weakening of the Comex spot gold prices triggered by the strengthening of the United States dollar which makes buying relatively sluggish.
Technically, gold at today’s trading session on Wednesday (15/10) potentially bearish trend test negative again, but prone to reversal. The RSI indicator tends to re-test support channel and towards the oversold area, but Bollinger Bands which began to widen, thus giving impetus to gold to the upside.
It is estimated that the price of gold immediately prior to test support at least in the area and re-test 1220.70 maximum 1215.50 level. However, if the price of gold is able to break and hold above 1226.90 then estimated the price of gold has the potential to test the 1230.00 and 1235.10 Resistance.
