Jakarta - Composite Stock Price Index (CSPI) / IHSG , predicted the movement would continue horizontally (sideways) to trade in the coming weeks, especially if there is no positive sentiment that makes JCI is able to penetrate resistance at 2820 levels.
In the last week, CSPI (IHSG) moving in the range of 2823.251 at the close of June 4, 2010 and closed on the closing level of 2801.899 on June 11, 2010. JCI (IHSG) movement tend not to fluctuate in the trading week yesterday.
According to PT Samuel Securities analyst Muhammad Al-fatih, JCI movement range at the weekend to support 2700 resistance 2820. He said that if there is no sentiment that is able to make these boundaries through the Composite Index, the Composite Index will likely continue the sideways pattern in the same range in the coming week.
"If the limit of support and resistance are not able to penetrate (IHSG) CSPI 2700-2820, apparently next week is still going sideways and not fluctuate," he said.
Al-fatih also said the negative sentiment is basically the debt condition of European countries have started to fade alias does not significantly influence the JCI movement. Therefore, this should be a good momentum to lift the 2820 JCI pierce resistance.
Unfortunately, the carpet of the World Cup 2010 in progress at the same time. For the record, the World Cup 2010 always make daily transactions dropped dramatically in terms of both volume and value of the transaction.
"Based on the history of stock trading, indeed every World Cup it decreases transaction. We do not know the exact cause, but it was always like that. The movement of the rising and falling so casually, just a thin all their transactions," said Al-fatih.
Tokyo - the euro single currency continues to stress to the lowest level in four years. It was directly triggered the decline in world crude oil prices to below U.S. $ 70 per barrel.
In trading Monday (5/17/2010) in Asian markets, the euro fell to 1.2234 dollars, which is the lowest point since April 2006. The next Euro at 1.2277 dollar recovered slightly, or weaker than the closure last weekend at 1.2358 dollars.
The fall of the euro continue to occur despite the European Union and the IMF has announced a rescue package from the impact of the crisis region of Greece worth U.S. $ 1 trillion.
"This is not just a problem of the debt crisis that caused the euro slumped Greece, but also fears of widespread impact," said Hideaki Inoue, a senior analyst with Mitsubishi UFJ Trust and Banking, as quoted from the AFP on Monday (5/17/2010).
Deterioration of the euro was directly triggered the drop in world crude oil prices. In trading in Asia, the main contract light sweet crude June delivery had slipped to U.S. $ 69.82 per barrel, before finally improved to U.S. $ 70.05 per barrel. While the Brent oil fell 1.38 dollars to the level of U.S. $ 76.55 per barrel.
"One of the factors that put pressure on oil prices is the continued strengthening of the U.S. dollar over the euro. Fundamentally, the oil market is not particularly tight, so they are vulnerable to reversal of sentiment, and this is what actually happened," said David Moore, analyst at Commonwealth Bank of Australia.
So far oil prices already down 17 dollars or about 20%, after touching its highest point in the level of U.S. $ 87.15 per barrel on 3 May. (Qom / dnl)