Kospi Weak By Blue Chip Stocks
Started trading South Korean stock market last weekend in February (27/2), the Kospi index opened lower on negative performance of the blue-tier stocks in early trade. The sell-grind these stocks rally after the previous trading experience.
Shares of blue layer is weakened Posco Steel shares fell significantly by 1.3%, Samsung Electronics fell 0.3%, and Hyundai Motor fell by 0.3%.
The Kospi index of the last weekend in February in open weakened slightly weakened by 0:32 points, or 0.001% which is 1.992.76 from the closing position at 1933.08 points to reach the previous highs at 1993.43 points and the previous low at 1984.04 points, and Kopsi index futures also weakened by 0:20 or 0:08 point being 252.73% from the previous closing position at 252.93 points to reach the previous highs and lows pada253.15 points prior to 252.20 points.
Based on the close of trading on the stock exchange before, then Analyst Vibiz Research Center estimates that the movement of Kospi index this morning will move in negative territory by trying to break the support level at 252.40 points with the middle 10 MA5 time bolinger H1 and H4, if the movement of the index is able to penetrate the support level at 252.40 then the movement of the index will try to penetrate the next support level at 251.70 points.
The movement of the index if it is not able to penetrate the support at 252.40 will mencba through the resistance level at 252.95 points with over 10 MA5 bolinger time daily. A break of resistance at 252.95 points, the index movement will try to penetrate the next resistance level at 253.45 points.
Technically, the index on the trading session today, Friday (27/02) is likely to strengthen, test positive trend. At the M15 chart bullish hammer formation provides opportunities for the index to move upside. However, the volume of which is likely to increase, as well as an early indication of bullish index. In addition, RSI, the M15 chart, are oversold, signaling upside.
It is estimated, the index test the first resistance level of 253.00 and 253.50. If it fails at 252.25, then the next index is expected to tend to retest the support level of 252.00 and continued until the possibilities are in the 250.80 area.
Business Investment in the UK Worryingly, Sterling Back Depressed
Sterling slipped from near 8-week highs versus the US Dollar on Thursday after the decline in business investment data in the UK sparked concerns inevstor. However, the support of the UK GDP data still limit the decline Cable.
Data on Thursday showed the investment companies in the UK recorded the steepest decline in nearly 6 years in the last quarter of 2014, with the fall in global oil prices hit investment in the oil sector. While the UK GDP reported October-December period grew 0.5%, slower than 0.7% in the 3rd quarter. Although the lowest level in a year, the growth rate was in line with expectations.
Technically, the trading session today, Friday (27/02), pound sterling-dollar pair a chance to move in the negative trend.
The weakening of the pound sterling primarily expected soon reexamine the minimum support at 1.5380 and 1.5325 maximum. Meanwhile, if the pound sterling was able to break and hold above 1.5423, then the other alternative scenario that Pound chance to test resistance in 1.5450 and 1.5500 area.
Gold Start Shows Increase
Gold prices rose on Thursday after US jobless claims data increased. It is made of precious metals also terkerek.
On the Comex in New York Mercantile Exchange, gold futures for April delivery rose 0.72 percent, to 1,210.10 dollars an ounce level. Data from the US jobless claims rose 313,000. Rose 31,000 from the previous week, as quoted from the US Labor Department yesterday.
Investors tend to move assets to push gold to a safe haven when the economy shows signs of faltering. Precious metals also got a boost from the US Commerce Department report showed inflation also fell 0.7 percent in January.
Meanwhile, the lunar new year often lead to an increase in demand for gold for the prize. As quoted from the Census and Statistics Department report released the Hong Kong gold imports from Hong Kong to China rose 76 118 tonnes observed in January.
Silver futures for May delivery rose 15 cents, or 0.91 percent, to close at 16 624 dollars per ounce. Platinum for April delivery added 4.8 dollars, or percent, to close at 1,173.60 dollars per ounce.
Technically, gold in today’s trading session on Friday (27/02) 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 Bands that began to widen, thus giving impetus to the gold to the upside.
It is estimated that the gold price immediately prior to test support in the area of at least 1205.33 and re-test the maximum level of 1200.73. However, if the price of gold is able to break and hold above 1209.60, the estimated price of gold could potentially test the 1207.40 and 1210.72 resistance.
