Gold Gains On Weakening Dollar And China’s Growth Prospects
Gold ended higher on Monday as the dollar decline in uncertainty about global economic growth, but that with the prospect of greater economic stimulus from China also increased the attractiveness of investing in gold.
Technically, gold in the trading session today, Tuesday (14/10) reversal potential, tested positive trend, but vulnerable to profit-taking. The RSI indicator Resistance tends to re-test the bullish channel and into the area, but Bollinger Bands which began to shrink, thus giving impetus to gold to the downside.
It is estimated that the price of gold immediately prior to test at least Resistance in the area and re-test 1240.00 maximum 1245.50 level. However, if the price of gold could not break and hold below 1235.10 then the estimated price of gold has the potential to test the 1233.10 and 1228.50 Support.
Seoul shares ended Terpanah Weakens Negative Sector Performance Chip Manufacturer
At the end of trading on the stock exchange on Monday South Korea’s Kospi index seems to have closure with a significant decline. Stock markets tumbled to the lowest level since March for two days in a row.
Technically, the index on the trading session today, Tuesday (14/10) 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 243.50 and 240.90. If it fails at 245.45, then the next index is expected to tend to retest the 246.60 resistance level and continue until the area is likely to be 248.10.
Sterling Flat Rate Increase Due to Uncertainty
The pound flat against the dollar due to the uncertainty of the time when the first rate hike either of the Federal Reserve and the Bank of England.
Technically, the trading session today, Tuesday (10/10), pound dollar pair likely to move in a negative trend.
The weakening pound is mainly expected to immediately reexamine the minimum support at 1.6000 and 1.5950 maximum. Meanwhile, if the pound was able to break and hold above 1.6066, then another alternative scenario that is likely to test resistance pound existing in the area of 1.6100 and 1.6150.
