Nikkei Closed Positive
Nikkei ends closed 109 points, or 0.58 percent, at 18 982. Strengthening pushed the Nikkei index rising crude oil prices.
Oil prices rose slightly at the end of Asian trading hours. US crude oil futures for February delivery rose 0.46 percent to $ 36.98 per barrel. The price of Brent oil futures up 0.49 percent at $ 36.80 per barrel.
Japanese stocks at the close of trading, shares rose oil. Inpex and Japan Petroleum each closed up 0.85 percent and 1.73 percent.
While shares of major exporters such as Toyota, Sony and Honda closed mixed after a decline in the morning.
Meanwhile, in another report said Toshiba, still recovering from a $ 1.3 billion accounting scandal, intend to ask for an additional 300 billion yen ($ 2.49 billion) in credit lines for further restructuring plans. Toshiba shares rose 2.7 percent after falling more than 15 percent last week to its lowest in the annual rate.
As for Nikkei futures were also observed in the positive zone, up 70 points or 0.37% at 19.050, up from the previous trading at 18.980.
Technically, the index on the trading session today, Wednesday (30/12) 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 tends to increase, an early indication of bullish index. In addition, RSI, the M15 chart, was oversold, signaling upside.
It is estimated, the index test the level of support in advance ie 18 920 and 18850. If it fails at 19050, then the next index is expected to tend to retest the resistance level 19100 and continued until the possibilities are in the area 19 150.
Pound Condition Shadowed By Referendum
A referendum on Britain’s membership in the EU continues to overshadow the movement of the pound sterling to sharply lower on Tuesday. The fastest referendum held in June 2016, the survey results show the number of citizens who want Britain out of the EU’s balanced with the desire to survive.
With UK inflation around 0%, far below the target of 2%, the Bank of England (BoE) decided to keep interest rates at 0.5% throughout the year. Report last week showed the UK economy grew 0.4% in the third quarter, the second quarter is lower by 0.5%. Foward contracts based on the average sterling overnight index or Sonia, indicating investors expect the BoE will raise interest rates by 25 basis points prior to January 2017.
On the other hand, the Conference Board on Tuesday reported US consumer confidence index rose in December after falling in the previous month. Figures index touched 96.5 in December, up from 92.6 the previous month. Analysts polled by Reuters had forecast 93.8. The Federal Reserve recently raised interest rates this month, is expected to raise interest rates again in March 2016.
Technically, today’s trading session on Wednesday (30/12), pound sterling-dollar pair has an opportunity to move in a positive trend.
The strengthening of the pound sterling mainly expected soon reexamine the minimal resistance at 1.4880 and maximum 1.4950. Meanwhile, if the pound sterling was able to break and stays below 1.4820 then another alternative scenario, ie the pound sterling likely to test support in 1.4770 area and 1.4720.
Gold Ends Up Following Increase in Crude Oil Prices
Gold prices rose slightly at the close of trading on Wednesday morning (30/12) to respond to the increase in oil prices, but a rebound in fixed dollar limit prospect of higher. But the price of gold preparing for the third year losses amid the prospect of higher US interest rates.
Crude oil prices surged at the close of trading on Wednesday morning (30/12) with the prospect of cold weather in the coming week, but slowing global demand and abundant supply from OPEC members continue to bring energy markets tend to be bearish.
The price of WTI crude oil futures closed up $ 1.06, or 2.88 percent at 37.87 dollars per barrel. While Brent prices rose $ 1.27, or 3.5 percent, to 37.91 dollars per barrel, less than $ 2 above 11-year lows of 35.98 dollars per barrel reached last week.
The dollar initially fell but rebounded 0.3 percent against a basket of major currencies after data showed US consumer confidence was higher than expected in December.
The price of gold is likely to end the year 2015 in a reduction of almost 10 percent, mainly due to expectations that US interest rates higher would hit demand for this precious metal.
Spot gold prices rose 0.04 percent to 1,069 dollars per tory ounce, after losing 0.6 percent in the previous session, amid thin volume on the last trading week of the year.
While the price of US gold futures for February delivery settled at 1,068.0 dollars per troy ounce, little changed from the previous day’s close to $ 1,068.3.
Separately, the data also showed US single-family home prices rose in October at a slightly faster pace than in September and above market expectations.
Silver prices rose 0.7 percent to $ 14.03 per ounce, but was heading for 11 percent annual decline, while the price of palladium rose 0.85 percent to $ 556.75 per ounce and the price of platinum rose 1.14 percent to $ 889, 55 per ounce.
Technically, gold on the trading session today, Wednesday (30/12) potential reversal, testing positive trend, but prone to profit taking. RSI indicator tends to re-test resistance and aiming the bullish channel, but Bollinger Band begins to shrink, thereby giving impetus for gold to the downside.
It is estimated that the gold price immediately prior to test resistance in the area of at least 1075.10 and re-test the maximum level of 1081.87. But if the gold price could not break and stays below 1070.10 then predicted gold prices could potentially test the Support 1066.78 and 1061.40.
