Kospi Successfully Turn Weakening Trend
Venturing South Korean stock exchange trading at the weekend (13/2), the Kospi managed to reverse the direction of movement to move higher after being shut down for three days. Strengthening supported by shares of Samsung and Hyundai Motor.
Hyundai Motor in early trading today after successfully reversed strengthened significantly weakened at the end of trading yesterday, rose by 1.2%. In addition to strengthening Hyundai also there are some stocks rose in early trade today as Samsung Electronics rose significantly by 0.9% and Kepco shares rose significantly by 2.1%. However, Hyundai Heavy Industries slumped 3.2% who responded to an operating loss in 2014 that dsebabkan decline in demand European region as well as the perdaingan of China.
Spot Kospi index in early trading today moved higher by 7.69 points, or 0.4%, which became 1949.32 points from the previous closing position at 1.941.63 points to reach 1933.04 points and the lowest at and hit a high at 1947.21 points.
Similarly, the movement of Kospi index futures in early trading today are higher by 0.94 points or 0:38% being 248.65 points from the previous closing position at 247.71 points by reaching the highest at 248.40 points and reached lows at 246.70 points.
Based on the close of trading on the stock exchange before, then according to analyst estimates that trade movement today will be in positive territory by the resistance level at 249.30 points and 250 120 points and support level at 249.80 points and 248.50 points.
Technically, the index on the trading session today, Friday (13/02) is likely to strengthen, test positive trend. At the M15 chart bullish hammer formation provides opportunities for the index to move upside. However, the volume of which is likely to increase, as well as an early indication of bullish index. In addition, RSI, the M15 chart, are oversold, signaling upside.
It is estimated, the index test the first resistance level of 251.10 and 253.00. If it fails at 249.79, then the next index is expected to tend to retest the support level of 248.79 and continued until the possibilities are in the 247.10 area.
Euro Headed Towards Third Weekly Increase
The euro headed for a third weekly gain against the dollar, it will be a rally longest streak in a year, as the ceasefire agreement in Ukraine has eased geopolitical concerns and falling retail sales figures which have dimmed the outlook for US growth.
The single currency rose to its highest level in a week on Thursday after Ukraine and Russia agreed to a ceasefire which will take effect on February 15. The dollar index was on track for a second weekly decline after retail sales fell more than expected, prompting traders to question the projection waktuk Federal Reserve to hike interest rates this year.
“The recession anxiety tentag geopolitical risk has supported the euro against the dollar,” said Takeru Kurokawa, an analyst at Ueda Harlow Ltd., Tokyo. “Estimates for the progress in Ukraine has helped the greenback trim losses against the yen.”
Euro this morning was little changed at $ 1.1400 at 8:28 pm, on Thursday after touching $ 1.1423 level, it is the strongest level since February 6. Euro towards a rise 0.8% this week.
Meanwhile other analysts are Masato Yanagita of Sumitomo Mitsui Banking Corp. in New York, said that the demand for euro rose as easing concerns that Greece will exit the euro zone.
Technically, today’s trading session on Friday (13/02), the pair Euro-dollar likely to move in a positive trend.
The strengthening of the Euro mainly expected soon reexamine the minimum resistance at 1.1450 and 1.1510 maximum. Meanwhile, if the Euro was unable to break and stays below 1.1403 then another alternative scenario that Euro chance to test support in 1.1380 and 1.1350 area.
Gold and Silver Prices Extend Rally
Metal commodity exchanges trading on Friday (13/2), the price of gold and silver was observed to naturally rise to higher trading, which extended gains after the close higher in the previous session.
Ongoing trade in the Asian session, gold futures have traded April pengirman 0:26% higher at $ 1.223.90 per troy ounce on the Comex division of the New York Mercantile Exchange. This morning gold price movements were seen moving to hit a session low $ 1.221.20 to $ 1.224.00 level daily and daily highs for the session.
As for silver for March delivery this morning looks natural rise, trading higher by 0:49% to $ 16,877 per troy ounce which is observed to move hit a session low $ 16,828 to $ 16,883 level daily and daily highs for the session.
Reinforcement for metal prices this morning seen extending gains in the previous session, when the weakening economic growth in the Americas region that deliver natural weakening US dollar and is beneficial for gold and silver prices closed higher, given the metal price movements tend to be opposite to the greenback.
In the previous session, the price of gold for April delivery has successfully closed higher $ 1.10, or 0.1% with at the level of $ 1.220.70 per troy ounce, and for silver futures March delivery closed up 3.3 cents, or 0.2% to $ 16,794 per troy ounce .
The weakening US economic conditions that have occurred when an official report released by the Census Bureau states that retail sales have experienced a decline of 0.8% in January, while the core retail sales have experienced a decline of 0.9% in January.
Meanwhile, a separate report that also suppress the natural weakening greenback has emerged from a US Labor Department report stating that the number of jobless claims in the US has increased by 25,000 to a seasonally adjusted 304,000 in the week ending February 7.
Technically, gold trading session today, Friday (13/02) potential reversal, tested positive trend, but prone to taking profit. RSI indicator tends to re-test resistance and aiming the bullish channel, but Bollinger Bands that began to shrink, thus giving impetus to the gold to the downside.
It is estimated that the gold price immediately prior to test resistance in the area of at least 1230.10 and re-test the maximum level of 1235.87. However, if the price of gold was unable to break and stays below 1227.20 then estimated the price of gold could potentially test the 1225.78 and 1220.40 Support.
