Hang Seng Carried Positive Sentiment Rises Thin
Hang Seng rose slightly as gains on Wall Street and investors shift the stock options. Hang Seng Index which contains blue chip stocks seem to be the targets of investors, switching from shares on the Shanghai Stock Exchange today sank to its lowest level in two weeks.
Wall Street recorded strengthened by several stimuli including stabilization energy, easing fears of a Greek exit from the euro, and the positive response of the Federal Reserve meeting minutes. Gains on Wall Street helped bring a positive influence to the Asian market, with the exception of the Shanghai index.
Hong Kong-traded index rose 0.7%, in the range of 23 827 this afternoon at 14:47 pm.
Technically, the index on the trading session today, Friday (01/09) 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 24200 and 24250. If it fails in 24124, we then estimated the index tends to retest the support level of 24100 and continued until the possibility of being in the 24050 area.
Sterling Drops After BoE Policy Announcement
Sterling fell to a 17-month lows versus the US dollar on Thursday, amid speculation that the Bank of England will not raise interest rates from a record low in 2015. The Bank of England held interest rates unchanged at 0.5% after holding its first meeting in 2015, as the decline in oil prices to curb inflation to 12-year lows and easing signs of recovery last year. BoE also said it would reinvest the proceeds from £ 4.35 billion of bonds maturing in January 2015.
“The market has gone too far in pushing the expectations of the first rate hike until early 2016,” said Steven Saywell, global head of foreign exchange strategy at BNP Paribas in London. “We ourselves are still not rule out the BoE will raise interest rates in 2015. Sterling will still outperform the Euro or Swiss Francs this year.”
Technically, today’s trading session on Friday (01/09), pound sterling-dollar pair likely to move in a positive trend.
The strengthening of the pound sterling primarily expected soon reexamine the minimum resistance at 1.5150 and 1.5200 maximum. Meanwhile, if the Pound was unable to break and stays below 1.5092 then another alternative scenario that Pound chance to test support in 1.5050 and 1.5000 area.
US Dollar Gains, Gold Prices Continue Decline
LLG gold price at the close of trading on Thursday observed to shut down early this morning. LLG weakening gold prices triggered by negative sentiment from fluctuations in the US dollar.
Rally in the US dollar index in the last 5 days was observed to re-ignite the gold price pushed lower on Thursday. Buying badly affected by the high value of the US dollar as a result of gold traded in US dollars, foreign investors are less likely to make a purchase. As it is, the price of gold was pushed down.
Although pressured by the movement of the value of the US dollar strengthened, but the position of the gold price movement in trading Thursday relatively flat due to mixed sentiment driven by the results of the FOMC meeting. US interest rates have not increased and the tendency will not rush into doing burunya Fed increased interest rates tend to make the movement stronger encouraged. In addition, China’s demand is rising ahead of the Chinese New Year also gives durability of the pressure attenuation.
At the close of trading on Thursday, January 8th, 2015 early this morning, the gold price closed at LLG was observed to have movement weakened. Gold prices LLG on early this morning closed down 0.19% to $ 1208.90 price level / t oz or lower $ 2.25 / t oz.
While at the close of trading on the Comex gold futures, gold futures prices also closed with weakened. Comex gold futures for February 2015 contract closed down 0.18% to the price level of $ 1,208.50 / t oz or down $ 2.2 / t oz.
Analyst predicts the price of gold will tend to strengthen in today’s trading. It is based on the negative expectations on non-farm payroll data is to be released today. But the movement also should be wary of positive expectations on the data the US unemployment rate. Related to price movements, predicted gold prices will likely move down to try to penetrate the $ 1,201.50 level with advanced potential to $ 1,191.80. Conversely, if there was a strengthening, the price will try to break through the level of $ 1216.45 with further potential to $ 1,222.95.
Technically, gold in today’s trading session on Friday (01/09) 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 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 1205.10 and 1200.73 maximum re-test. However, if the price of gold is able to break and hold above 1211.50, the estimated price of gold could potentially test the 1213.60 and 1215.72 resistance.
