South Korea’s Samsung Strengthens Exchange Thursday Morning
The opening of the South Korean stock market trading Thursday morning (16/4), the Kospi continued strengthening of the rate of the previous five trading sessions. World oil bounce back significantly at the end of the US trading session last night into early trading amplifier stock market this morning.
World oil still continuing positive trend last night by cutting attenuation in three months helped strengthen energy shares in South Korea as the Korean stock Petro Chemical opened shot of 14.70% and shares opened Foosung shot at 6.20%.
Traded today, the stock Samsung Group also helped strengthen the South Korean stock market trading after argue that the health condition of chairman Lee Kun – hee has deteriorated, so the stock Samsung Electronics also rose significantly by 1:30%, while shares of Samsung SDS affiliates are also opened up for 1.5% who responded to the plan to raise the sales target by 3-fold of sales now being ₩ 20 trillion
It also strengthened by Hanmi Pharm shares opened bolted by 15%, Cheil Industries shares opened bolted by 10%, which is an affiliate Lg LG Life Sciences are open shot at 5.80% and shares of Hyundai affiliates namely Hyundai Securities which opened shot at 5.70% .
The movement of Kospi index opened higher this morning at 14:18 points, or 0.67%, which became 2134.14 points from the previous closing position at 2119.96 points to reach the previous highs at 2122.72 points and the previous low at 2110.25 points. Likewise, the movement of Kospi index futures opened higher this morning by 1.90 points or 0.71% which is 267.67 points from the previous closing position at 265.77 points to reach the previous highs at 266.41 points and 264.93 points earlier lows.
Based on the previous closing, then Analyst Vibiz Research Center estimates that today’s Kospi index movement will try to strengthen the reverse direction through the resistance at 266.30 points with over 10 MA5 bolinger daily, if the movement of the first through the resistance index is expected to try to penetrate the next resistance at bolinger 266.80 points with over 10 MA5 daily.
If the movement weakened the reverse direction is estimated that the movement of the index will try to penetrate support at 265.20 points with over 10 MA5 bolinger H4, if the movement penetrated support at 265.25 points then are expected to try to penetrate the next support at 264.30 points with over 10 MA5 bolinger daily.
Technically, the index likely to weaken on the trading session today, Thursday (16/04), test negative trends, the impact of Wall Street. At the M15 chart bearish engulfing formation provides opportunities for the index to move downside. However, the volume tends to rise, early indications bullish index. In addition, RSI, the M15 chart, are oversold, signaling upside.
It is estimated, the index test the first support level that is 266.25 and 264.90. If it fails at 268.10, then the next index is expected to tend to retest the resistance level of 269.10 and continued until the possibilities are in the 270.25 area.
The weakening Euro Crop Post-Speech Draghi
The euro weakened against the dollar cut after European Central Bank President, Mario Draghi, is optimistic the euro zone economy.
In his speech after the monetary policy meeting, Draghi said that monetary policy is currently showing effectiveness, and said inflation will begin to rise and approach the target of 2%. Meksi so in the coming months inflation is still expected to be low or negative.
Euro zone economy is widely said to be restored and strengthened gradually. Program of quantitative easing from the ECB, the reform program, and low oil prices will boost domestic demand.
Draghi also mentions a weakening euro exchange rate will help increase exports. The statement according to Eurostat data released earlier showed a 4% increase in exports in March.
EURUSD traded the range of 1.0625 at 9:23 pm, with daily lows and highs 1.0569 1.0673
Technically, today’s trading session on Thursday (16/04), the pair Euro-dollar likely to move in a positive trend.
The strengthening of the Euro mainly expected soon reexamines the minimum resistance at 1.0780 and 1.0840 maximum. Meanwhile, if the Euro was unable to break and stays below 1.0723 and another alternative scenario that Euro chance to test support in 1.0700 and 1.0650 area.
Gold Back Towards Glory
Gold futures ended higher on Thursday’s closing day (16/4), to close some of the losses suffered during the last two trading sessions to regain the level of $ 1,200 per ounce.
US economic reports came in weaker than expected, where it is joined to weaken the dollar. The weaken dollar makes gold more attractive to investors.
Gold for June delivery tacked on $ 8.70 or 0.7% to settle at $ 1,201.30 an ounce on the Comex. Silver in May also closed up 11.8 cents, or 0.7% to $ 16,279 per ounce.
Platinum for July delivery rose $ 2.90, or 0.3% to US $ 1,156.60 an ounce, while palladium for June rose $ 4.60, or 0.6% to $ 767.10 per ounce. Copper for May contract tacked on 1.3 cents, or 0.5% to $ 2,713 per pound.
Technically, gold trading session today, Thursday (16/04) 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 1211.25 and re-test the maximum level of 1216.80. However, if the price of gold was unable to break and stays below 1206.50 then estimated the price of gold could potentially test the 1204.50 and 1202.80 Support.
