Hang Seng Rebound Limited Awaits China Data
Hong Kong shares in early trading Wednesday morning this week, the third month of July (15/7), the Hang Seng index opened rebound seemed successful but limited and will tend to weaken again. Investors are still wary of the big announcements of Chinese national statistics office today.
National Bureau of Statistics of China will announce GDP data Q2-2015 and also industrial production data, retail sales data as well as data Fixed Asset Investment showed that overall indicated negative results. But this morning the stock is still reinforced by China Resources Land shares at 0.90%, shares of AIA Group 1%, shares of Sun Hung Kai Properties 0.82%, Belle International Holdings shares 1.78%, shares of Sands China 1:08%, BOC Hong Kong Holdings shares 1:31%, HSBC Holdings 1:24%, and amounted to 1.68% of Lenovo shares.
The Hang Seng Index opened higher success significantly by 98.54 points or 0:39%, to 25219.45 points of the position be traded before closing at 25120.91 points and reached the highest position previously traded at 25250.95 points and the lowest in advance at 24,906,47 points ,
Similarly, the movement of the Hang Seng Index futures this morning, which successfully opened higher by 88 points or 0:35%, to be 25 093 points from the previous closing position traded at 25 005 points and reached the highest position previously traded at 25 182 points and the previous low at 24 840 points ,
Based on the closing traded previously, the analyst estimated that the Hong Kong index movement today will try to penetrate the first resistance at 25,100 points with MA5 on BB10 H4, if the movement of the index broke through the first resistance is expected to try to penetrate the resistance at 25 230 points with MA5 top BB10 daily.
If the movement of the index managed to increase the volume weaken, it is expected to try to penetrate the first support at 24 875 poinn the middle MA5 BB10 daily, if the movement of the index broke through the first support is expected to try to penetrate the second support at 24 735 points with MA5 under BB10 daily.
Technically, the index on the trading session today, Wednesday (15/07) likely to weaken, 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 of which is likely to increase, early indications bullish index. In addition, RSI, on the M15 charts, is oversold, signaling upside.
It is estimated, the index test the level of support in advance ie 24900 and 24840. If it fails at 24 945, then the next index is expected to tend to retest the resistance level that is 24 980 and continued until the possibilities are in the 25030 area.
Euro Pushed Higher Fight To Preserve Gains
The euro rose to session highs against the dollar on Tuesday after data showed an unexpected drop in US retail sales last month, but the single currency is still struggling to sustain gains amid persistent concerns about Greece.
EUR / USD touched highs at 1.1082, before returning attracted to 1.1010, an increase of 0:35% for the day.
The greenback weakened against most currencies after the US Commerce Department said that retail sales fell by 0.3% in June, compared with expectations for a 0.2% rise.
Retail sales in May was revised down menjad 1.0% from the previous 1.2%.
The euro is still moving defensive as investors waited to see whether the Greek parliament will support the austerity measures demanded by the harsh creditor countries in exchange for an agreement to avoid the collapse of the financial system in the country.
Four pieces of legislation must be passed by the end of Wednesday, which include pension reform and sales tax. Meanwhile, lend loans to Athens, to cover payments to European central bank in July and August, is still underway in Brussels.
Technically, the trading session today, Wednesday (15/07), the pair Euro-dollar likely to move in a negative trend.
The weakening of the Euro mainly expected soon retest the support at 1.0950 minimum and maximum 1.0900. Meanwhile, if the Euro is able to break and hold above 1.0994, then the other alternative scenario that Euro likely to test resistance in 1.1025 and 1.1075 area.
Gold Price Tend Down
Gold futures are still experiencing decreased motion on Wednesday (15/07). In the middle of a flat dollar, Iran reached a nuclear deal with Western partners and the Prime Minister of Greece Alexis Tsipras seek support from creditors with the euro zone.
Comex division of the New York Mercantile Exchange, gold for August delivery fell 1:10 or 0:10% to a level of 1,155.30 a troy ounce. In Athens, the agreement requires the parliament to ratify the four measures related to taxes, pension reform and the budget to trigger the sound of six other national parliaments throughout the eurozone.
Greek economy minister, George Stathakis predicted that Tsipras will wait until after the voting to reshuffle the cabinet, quoted by Bloomberg, Stathakis said he believes Bank of Greece was not reopened until the bailout program approved by the national parliament.
Meanwhile, officials from the International Monetary Fund urged the euro zone to provide debt sustainability program, by offering a 30-year grace period for the nation’s lack of money to pay the debt. While European lenders consider pushing back the payment date and interest rate cuts on loans to Greece through the European stability mechanism (ESM).
Other Comex trading, silver for September delivery fell 0.87% to 0134 or 15 323 per ounce. Copper for September delivery fell 0011 or 0. 44% to 2,533 a pound.
Technically, gold in today’s trading session on Wednesday (15/07) 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 1150.10 and re-test the maximum level of 1145.25. However, if the price of gold is able to break and hold above 1155.30, the estimated price of gold could potentially test the Resistance 1157.50 and 1162.10.
