Hang Seng Corrected By Drop In Oil
The drop in world oil the US session last night, seemed to have an impact on trade Hong Kong shares this morning (13/10), where the Hang Seng index fell enough to be opened in the post-strengthened significantly traded stocks before.
In addition, the investor looks forward to be the result of the release of data that the data region of China, such as data reporting domestic trade balance would decline dikahwatirkan back due to declining export performance in the country.
Ballast Hong Kong stock exchange this morning is China Shenhua Energy shares amounted to -2.88%, -0.89% AIA Group shares, shares of China Life Insurance -1.89%, shares of Bank East of Asia -2.45%, China Mengniu Dairy shares fell sharply -48.66% China Petroleum & Chemical shares -2.84%, -3.76% stake PetroChina, CNOOC -2.22%, shares of Hong Kong & China Gas -0.54%, -0.92% shares Kunlun Energy.
Hang Seng index movement spot this morning seemed opened decreased by 53.33 points, or 0:23%, to be 22,677,60 points from the closing position at the end of the previous stock exchange trading on the position of 22730.93 points and managed to record the largest gains earlier traded at 22779.50 points position and previous low at 22562.26 points position.
Likewise, the movement of the index futures Hang Seng this morning which opened down by 61 points or 0:27%, to be 22 596 points from the closing position at the end of trading stock exchanges previously at position 22 657 points and managed mencatatkakn biggest gain was traded earlier at position 22 757 points and the previous lows at position 22 450 points.
Based on the results of the closure at the end of trading the stock market before, the analyst estimated that the movement of the Hang Seng Index today will potentially turn retreat to penetrate the first support at position 22 435 points with MA5 middle BB10 H4, if the movement of the index broke through the first support it is expected to try to penetrate the second support at 22,250 points with the position of the center BB10 H4 MA.
If the movement of the index managed to turn toward stronger, it is expected to try to penetrate the first resistance at 22 780 points with MA5 position on BB10 H4, if the movement of the index broke through the first resistance is expected to try to penetrate the resistance at 22 975 points with MA5 position on BB10 H4.
Technically, the index on the trading session today, Tuesday (13/10) 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 22700 and 11760. If it fails at 22 652, then the next index is expected to tend to retest the support level that is 22 625 and continued until the possibilities are in the area 22 575.
USDJPY Observed Weakens
The movement of the currency market on Tuesday (13/10), observed US dollar weakened against the yen after the release of Japanese economic reports this morning.
Ongoing trade in the Asian session, the pair USDJPY observed to weaken 12:06% to trade at 119.95.
The US dollar looks under pressure against the yen after the release of Japanese economic reports this morning. Based on the official report released by the Bank of Japan said that bank lending has now experienced an increase of 2.6% in September after rising by 2.7% in August.
Meanwhile, the presence of the schedule reports economic fundamentals in Asia will enliven the market movements. The report meliputis a Chinese trade balance data and consumer confidence in Japan, which has the potential to move back USDJPY pair.
Technically, the trading session today, Tuesday (13/10), the dollar yen pair has an opportunity to move in a negative trend.
Weakening Yen mainly expected soon reexamine the minimum support at 119.25 and 118.50 maximum. Meanwhile, if the Yen is able to break and hold above 119.89, then another alternative scenario the Yen chance to test the resistance at 120.25 and 120.80 area.
Gold Touch Highest Level
Gold rose on Monday and touched its highest level since July, speculation delay interest rate hikes in the US continues to maintain the performance of this precious metal.
Throughout the year, gold had meneyuntuh lowest level in 5 1/2 years in July, due to the US Federal Reserve prepares to raise interest rates this year. Gold is an asset with no yield, so it becomes less attractive when the Fed raised interest rates.
But the US economic data released less slick in recent years, both economic as well as the global slowdown that could have an impact to the US, eclipsing expectations of a rate hike this year.
Fed officials in recent days still insists confidence will be a rate hike this year, as long as US economic data did not disappoint. But the market seemed more confident Abank US Federal Reserve will not raise interest rates until next year. Hedge Fund, and investment managers have raised bullish position on gold and silver on COMEX, and hit a four-month high in the week ended October 6.
Technically, gold in today’s trading session Tuesday (13/10) 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 1153.10 and re-test the maximum level of 1148.25. However, if the price of gold is able to break and hold above 1158.00, the predicted gold prices could potentially test Resistance namely 11560.40 and 1165.72.
