World Oil Top Hang Seng
During the third week in a Hong Kong stock exchange trading in September last, the Hang Seng Index managed to continue the positive movement of the previous week’s trading. Positive movement influenced some local economic data and also the movement of world oil prices had gained.
Early in the week, investors were surprised by the results of the release of industrial production in the country’s performance on an annual basis in Q2 ago, which experienced a slight improvement to be -1.3%, from the previous release at -1.5%, and managed to ward drop forecast by economists to be be -1.72%. However positive unemployment data in the country, which shows the stability of the number of unemployed in the country to be 3.3%, was not able to be a positive trend for the Hong Kong stock market movements ahead of the weekend, which was dragged down by the poor performance of the stock market a positive boost from the global. Meanwhile it still supported by strong world oil prices that reached the highest price range at $ 47.69 / barrel.
Spot Hang Seng Index in the third week ago, managed to record gains of 416.46 points, or 1.89%, to 21920.83 points into the closing position at the end of the previous week’s trading at 21504.37 points position and managed to record the biggest surge in stocks in the week to the position 22203.36 and the lowest point at 21411.17 points.
Likewise, the movement of the index futures Hang Seng week, the third last, managed to record gains of 535 points, or to 2.50%, to be 21 838 points from the closing position at the end of trading prior week at position 21 303 points and managed to record biggest in the week at position 22 170 points and the lowest at 21 289 points.
Amplifier stock exchange in one week is the Bank of China, Industrial & Comercial shares Bank of China, HSBC Holdings, Lenovo stocks, Sino Land stock, stock Galaxy Entertainment, Ping An Insurance shares.
Hong Kong shares in the trading of the fourth week later, it is estimated that investors will look forward and respond to some of the fundamental data in the country, such as Current Account Data, Data inflation, trade balance report data, data export and import data.
While technically the movement of the index Hang Seng this week, an analyst predicted that the movement of the Hang Seng Index during the fourth week will have the movement of the normal range at the level of the first resistance at position 22 215 points and second resistance at position 22 505 points, while the first support level at position 21 230 points and the second support at 20,800 points position.
Technically, the index on the trading session today, Monday (21/09) likely to strengthen, test positive trend. At the M15 chart bullish hammer formation to provide opportunities for the index to move upside. However, the volume tends to increase, as well as an early indication of bullish index. In addition, RSI, the M15 chart, was oversold, signaling upside.
It is estimated, the index test the first resistance level of 22140 and 22200. If it fails at 22 081, then the next index is expected to tend to retest the support level of 22050 and continued up to the possibility of being in the 22000 area.
Dollar Continue Weakening Against Yen
The US Federal Reserve’s decision to keep interest rates makes the dollar weakened against the yen last week, and continued at the beginning of this week. Although time above the level rose to 120 after trading opened, but the dollar weakened and turned straight back down to the 120 level.
Statement by the President of the Federal Reserve of San Francisco, John Williams, on the day of last week into an open gap up background dollars in early trading. Williams said the decision to maintain interest rates at virtually the same as raising interest rates. He also mentioned the labor market was almost full employment, but anxiety about the global economy and financial markets make policy makers opted to keep interest rates.
Anxiety about the global economy made the yen is seen as a safe-haven currency more attractive to market participants. On Friday the dollar even had weakened sharply against the yen, touching an intraday low of 119.05 before weakening is successfully trimmed.
USDJPY traded at 119.84 at 07:56 pm, with daily highs 120.11, and 119.77 lows.
Technically, the trading session today, Monday (21/09), the dollar yen pair has an opportunity to move in a negative trend.
Weakening Yen mainly expected soon reexamine the minimum support at 119.00 and 118.25 maximum. Meanwhile, if the Yen is able to break and hold above 119.85, then another alternative scenario the Yen chance to test the resistance at 120.10 and 120.60 area.
Gold Claimed Strengthening
The gold market rally scoring 3-day losing streak and the first weekly gain in a month thanks to the Federal Reserve’s projection that unexpectedly pessimistic. Not just pessimistic, Fed Chair Janet Yellen also expressed concern related to the slowdown in China and turbulence in the global market so that the interest rate deemed appropriate decisions. This is good news for gold that has been depressed at the lowest level in 5 years.
However, for long-term bias remains bearish gold trade as growth in the US labor market securing investor expectations the Fed will raise interest rates this year, although inflation is still below the central bank’s target. Yellen said that the majority of officials still expect a rate hike this year and is conducted in a Reuters survey showed the majority of Wall Street bankers speculated the Fed will raise interest rates in December.
Gold rally continued in the third session, closed up 0.75% or $ 8.45 at the level of $ 1139.67 per troy ounce.
Technically, gold in today’s trading session on Monday (21/09) potentially bearish, tested negative trend back, but prone to reversal. RSI indicator tends to re-test support channel and towards the oversold area, but Bollinger Band begins to widen, thus giving impetus for gold to the upside.
It is estimated that the gold price immediately prior to test support in the area of at least 1132.10 and re-test the maximum level of 1127.73. However, if the price of gold is able to break and hold above 1137.35, the predicted gold prices could potentially test Resistance ie, 1140.40 and 1145.72.
