Hang Seng Back Drawn Negative Flow
Along the Hong Kong stock exchange trading on Tuesday, the Hang Seng index appeared to be not able to be free of the negative pressure in early trade, due to the spread of negative sentiment sidalam China Hong Kong shares trade on Tuesday. Investors are currently worrying economic conditions of China ahead of the latest policy of the US Federal Reserve will release its latest interest rate, so managed to subvert Belle International Holdings shares amounted to -5.20%, shares of China Resources Power Holdings -3.77%, Sun Hung Kai Properties -3.28%, shares of China Unicorn Hong Kong -2.30%, -1.98% AIA Group shares, shares of Hong Kong Exchanges and Clearing -1.57%.
The Hang Seng Index on Tuesday returned to record a fall of 106.67 points or 0:49%, by becoming 21455.23 points from the closing position at the end of the previous stock exchange trading on the position of 21561.90 points and managed to record surge Tuesday greatest separation at the position 21634.48 points and the lowest at 21411.17 points position.
Likewise, the movement of the index futures Hang Seng Tuesday, which also closed a loss of 92 points or 0:43%, to be 21 334 points from the closing position at the end of trading stock exchanges previously at position 21 426 points, and managed to record a positive performance biggest trading on Tuesday at the position 21 584 points and the lowest at position 21 327 points.
Fundamentally in the Hong Kong stock market trading Wednesday, estimated that investors will still be waiting and responding to the results of the performance of the US stock market and the movement of world oil tonight, which is due to very lonely landing sentiment in the country.
While technically dipergerakan Hang Seng Index on Tuesday, where the line MA5 are still moving in the territory of the middle BB10 H4, however the Stochastic indicator H4 which shows the effort weakening further in trading the stock market further, it estimates that the movement of the Hang Seng Index next Wednesday will potentially continued weakening of trading on Tuesday, trying to penetrate the first support at position 21 265 points with BB10 bottom MA5 H4, if the movement of the index broke through the first support is expected to try to penetrate the second support at position 21 135 points with MA5 under BB10 H4.
If the movement of the index managed to turn around the direction of rebound, it is expected to try to penetrate the first resistance at position 21 425 points with MA5 middle BB10 H4, if the movement of the index broke through the first resistance then expected to try to penetrate the resistance both at position 21 570 points with MA5 on BB10 H4.
Technically, the index on the trading session today, Wednesday (16/09) likely to weaken, tests 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 first support level 21275 and 21225. If it fails at 21 333, then the next index is expected to tend to retest the resistance level that is 21 360 and is likely to be continued until the 21410 area.
Pounds Slump Due To UK Inflation Rate
Pound Sterling slipped against the dollar on Tuesday after economic data showed UK inflation rate fell again to the zero level in August, in line with forecasts but slightly comforting than the rate of inflation slipped into negative territory. The stakeholders also recognize the inflation rate will remain near zero level for several months after being dropped to a minus for ertama time in half a century earlier this year. The inflation is likely to reduce pressure on the Bank of England to raise interest rates in the near future.
Decline in fuel prices as well as rising prices of clothing were lower than in 2014 became one of the main factor to the declines in price inflation growth of 0.1 percent in July. As a result investors are not expecting a BoE hike benchmark interest rate until at least mid-2016, while his partner in the US, the Federal Reserve diekspektasikan raise interest rates later in the year or even the fastest on Thursday this week.
Conditions inflation remained close to the low level into the main argument barrier BoE rate hike, but on the other hand, the labor factor, positive wage growth be supporting BoE rate hike scenario.
Technically, the trading session today, Wednesday (16/09), pound sterling-dollar pair has an opportunity to move in a negative trend.
The weakening of the pound sterling mainly expected soon reexamine the minimum support at 1.5300 and maximum 1.5240. Meanwhile, if the pound sterling was able to break and hold above 1.5344, then the other alternative scenario that is Pound chance to test resistance in 1.5375 and 1.5425 area.
Gold Price Restless Ahead o f FOMC
Gold continued drop in on Tuesday triggered jitters ahead of the Federal Reserve’s next policy statement on this week amid growing uncertainty over a potential interest rate hike.
The Comex division of the New York Mercantile Exchange, gold futures for December delivery dropped -0.30% at $ 1,107.40. Futures may find support at $ 1,098.20, the low of September 11 and resistance at $ 1,111.70, high 11. Investors should remain cautious amid concerns that range from US economic reports and volatility in global financial markets.
Fed Governor Janet Yellen said that the increase in interest rates is taken from data dependency, but he also indicated that he expects to start raising rates before the end of the year. In other trading places in the silver futures for December delivery was little changed at $ 14,360 troy ounce, while copper futures for December delivery remained held at $ 2,404 per pound.
Technically, gold in today’s trading session on Wednesday (16/09) 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 1100.33 and re-test the maximum level of 1095.73. However, if the price of gold is able to break and hold above 1105.30, the predicted gold prices could potentially test Resistance ie, 1107.40 and 1112.72.
