Express Morning Briefing Market Summary ( 13 / 5 / 2011 )
HSI Support : 23000 Resistance : 23500 CEI Support : 12800 Resistance : 13070 Market opens higher as the scenario improves. Hang Seng Index bounced dramatically as money worked in the market. After a dramatic rebound, Hang Seng Index closed higher. It eventually finished at 23276, up 203 points. The turnover of HSI Constituents is $19.7 billion as the total market turnover is $65.0 billion. Recent rallies will probably be short-lived if the turnover of HSI Constituents remains thin. By Technical Analysis, 10-day moving average is now at 23387. 50-day moving average is at 23467. It stays in a typical consolidation as it hovers below 50-day moving average. In the meantime, RSI-14 is 43. It hovers below the 50-mark level, which suggests to staying on weak side. Analyzing the medium-term market trend, the previous low ( 29/3/2011 ) is at 22965 while the recent high ( 8/4/2011 ) is 24468. Measuring from the recent high, Fibonacci 0.618 retracement is now at 23539. Meanwhile, it hovers below the 0.618 retracement, and stays in a typical consolidation. The range of HSI is likely between 23000 and 23500 in coming days. In the meantime, CEI finally ended at 12894, up 98 points. In the major cycle market movement, the long-term high ( 8/11/2010 ) is 14219 as the recent low ( 11/2/2011 ) is at 11929. Measuring from the recent low, Fibonacci 0.382 retracement is 12803. 0.500 rebound from the bottom is 13074. It recoups the 0.382 retracement, and noses 0.5 retracement. The range of CEI is likely between 12800 and 13070 in near term.
- Hong Kong falls as resource shares, HSBC decline (marketwatch.com)
- S&P Volatility and the Silver Sell-off (engineerseye.wordpress.com)
- Hang Seng Index adds AIA, dumps Foxconn (marketwatch.com)
- EUR/USD: Set for deeper retrace to 1.3905, and possibly 1.3660 (forexlive.com)
- Fibbonacci Arcs Have Been Playing a Major Role in Hindalco (stockinv.wordpress.com)
- Long FTSE (tradingtrends.wordpress.com)
- Hong Kong; Industrial Goods & Services (online.wsj.com)
- Fibonacci Rules – Sometimes, the Old Ways Are the Best! (philstockworld.com)
Market Review AS & Eropa
Euro menguat untuk 5 sesi berturut-turut, menyentuh level tinggi 5 bulan yang baru terhadap dollar setelah investor dapat mengatasi kecemasan prospek euro dan mendorong euro menembus level teknikal penting dalam ekspektasi kenaikan suku bunga zona Eropa, menurut Monex. Harga emas masih terdukung setelah penurunan mingguan ketiga emas menarik investor untuk melakukan aksi beli. Harga minyak turun dibawah $88 per barel, menembus level support penting, mendapat tekanan dari banyaknya persediaan mengalahkan harapan membaiknya perekonomian akan mendongkrak permintaan minyak tahun ini. Data ekonomi hari ini adalah CPI Australia, keputusan suku bunga BOJ, GDP dan public sector borrowing dari Inggris, CB consumer confidence, HPI, Richmond Fed manufacturing Index, dan juga earnings dari Johnson & Johnson, 3M, Travelers, Verizon, dan Yahoo! dari AS. Nikkei diperkirakan bergerak dalam kisaran 10,400-10.480.
EUR/USD closing 1.3637, high 1.3686, low 1.3540, XAUUSD C:1333.65, H: 1352.95, L:1333,65 CO-LS C: 87.72, H: 89.63, L: 87.27.
The euro climbed to fifth straight session, touching the level of the new 5-month high against the dollar after investors can cope with anxiety the prospect of the euro and push the euro through important technical levels on expectations of eurozone interest rate hikes, according to Monex. Gold prices are still supported after the third weekly decline attract investors to gold buying. Oil prices fell below $ 88 per barrel, passing through important support levels, under pressure from many stocks beat expectations economic recovery will boost oil demand this year. Economic data today is the Australian CPI, BOJ interest rate decision, the GDP and public sector borrowing from the UK, CB consumer confidence, HPI, Richmond Fed Manufacturing Index, as well as earnings from Johnson & Johnson, 3M, Travelers, Verizon, and Yahoo from U.S.. The Nikkei is expected to move within the range of 10.400 to 10,480.
EUR / USD closing 1.3637, 1.3686 high, low 1.3540, XAUUSD C: 1333.65 H: 1352.95, L: 1333.65 CO-LS C: 87.72, H: 89.63, L: 87.27.
- Stocks to Watch: Stocks to watch for Tuesday: DuPont, Yahoo (marketwatch.com)
- ForexLive US wrap: Euro rallies on fear Europe might get something right (forexlive.com)
- Euro pierces support at $1.3637, falls to 6-week low (reuters.com)
- EUR/USD: Weekly Technical Commentary 11.01.2010 (forexlive.com)
- Inside Wall Street: Fear Not — This Bull Still Has Plenty of Running Room (dailyfinance.com)
- Pivot Point Trading Strategies 101 (brighthub.com)
- With Stocks at a Key Technical Level, What’s Next? (dailyfinance.com)