(IBTimes) - Economist Shayne Heffernan takes a look at all the
trading in Asia
Shayne Heffernan holds a Ph.D. in Economics and brings with
him over 25 years of trading experience in Asia and hands on
experience in Venture Capital, he has been involved in several
start ups that have seen market capitalization over $500m and 1
that reached a peak market cap of $15b. He has managed and
overseen start ups in Mining, Shipping, Technology and Financial
Services.
Markets in China, Hong Kong, India, South Korea and Singapore
were among those closed today for a holiday. The MSCI Asia
Pacific Index slid for a second month in April, losing 1
percent.
Australian shares had already been boosted by data showing
China's official purchasing managers' index (PMI) rose to a
13-month high of 53.3 in April from 53.1 in March.
The Chinese PMI indicated further expansion in the vast
factory sector, which could mean more demand for Australian
resources, but the index also came in below expectations of
53.6.
Beyond Australian shares, there was no specific market
reaction, although the Chinese data helped keep copper steady
near $8,400 a metric tonne (1.1 ton) and provided a bright spot
for oil. U.S. crude futures eased 0.1 percent at $104.80 while
Brent crude futures were also down 0.1 percent at $119.32 a
barrel.
The MSCI All-Country World Index of stocks lost 1.1 percent
including dividends while the Standard & Poor's GSCI Total
Return Index of metals, fuels and agricultural products fell 0.5
percent. The U.S. Dollar Index (DXY) dropped 0.29 percent.
Crude Oil (Jun 12) intraday: the bias remains bullish.
![""](http://www.ibtimes.com/"http://www.tradingcentral.com/newsletter/spacer10.gif")
Pivot: 103.90
Our Preference
: LONG positions above 103.9 with 105.5 & 106.2 in sight.
Alternative scenario
: The downside penetration of 103.9 will call for a slide towards
103.45 & 103.1.
Comment
: a support base at 103.9 has formed and has allowed for a
temporary stabilisation.
![""](http://www.ibtimes.com/"http://www.tradingcentral.com/newsletter/spacer20.gif")
![""](http://www.ibtimes.com/"http://www.tradingcentral.com/chart/Crude_Oil20125172257.GIF")
Opinion published is an intraday view.
Green Lines Represent Resistance | Red Represent Support Levels |
Light Blue is a Pivot Point | Black represents the
price when the report was produced
![""](http://www.ibtimes.com/"http://64.106.199.198:81/OT002443ezYxRUY5MDczLUJBOTUtRTAxMS04QjQ1LTAwMUI3ODU5Mzc4Nn0A.GIF?D=2012-05-01")
![""](http://www.ibtimes.com/"http://www.tradingcentral.com/newsletter/spacer30.gif")
| GOLD (Spot) intraday: the bias remains bullish.
Pivot: 1656.00
Our Preference
: LONG positions above 1656 with targets @ 1668 & 1680.
Alternative scenario
: The downside penetration of 1656 will call for 1649 &
1640.
Comment
: the RSI broke above a bearish trend line.
![""](http://www.ibtimes.com/"http://www.tradingcentral.com/chart/Gold20125172515.GIF")
Opinion published is an intraday view.
Green Lines Represent Resistance | Red Represent Support
Levels | Light Blue is a Pivot Point | Black
represents the price when the report was produced
|
| EUR/USD intraday: caution.
Pivot: 1.3205.
Our Preference
: LONG positions above 1.3205 with 1.3265 & 1.33 in
sight.
Alternative scenario
: The downside penetration of 1.3205 will call for 1.3175
& 1.315.
Comment
: the pair is on the upside but is approaching its strong
resistance, caution.
![""](http://www.ibtimes.com/"http://www.tradingcentral.com/chart/EURUSD20125171056.GIF")
Opinion published is an intraday view.
Green Lines Represent Resistance | Red Represent Support
Levels | Light Blue is a Pivot Point | Black
represents the price when the report was produced
|
| GBP/USD intraday: limited upside.
Pivot: 1.6200.
Our Preference
: LONG positions above 1.62 with targets @ 1.625 &
1.63.
Alternative scenario
: The downside penetration of 1.62 will call for a slide
towards 1.6155 & 1.6125.
Comment
: the pair is pulling back on its support.
![""](http://www.ibtimes.com/"http://www.tradingcentral.com/chart/GBPUSD20125171234.GIF")
Opinion published is an intraday view.
Green Lines Represent Resistance | Red Represent Support
Levels | Light Blue is a Pivot Point | Black
represents the price when the report was produced
|
| USD/CAD intraday: bullish bias above 0.9845.
Pivot: 0.9845
Our preference
: Long positions above 0.9845 with targets @ 0.9895 &
0.9925 in extension.
Alternative scenario
: Below 0.9845 look for further downside with 0.982 &
0.9795 as targets.
Comment
: the pair remains on the upside and is approaching its
resistance as the RSI is turning up.
![""](http://www.ibtimes.com/"http://www.tradingcentral.com/chart/USDCAD2012517942.GIF")
Opinion published is an intraday view.
Green Lines Represent Resistance | Red Represent Support
Levels | Light Blue is a Pivot Point | Black
represents the price when the report was produced
|
| USD/JPY intraday: under pressure.
Pivot: 80.00.
Our Preference
: SHORT positions below 80 with 79.6 & 79.3 in sight.
Alternative scenario
: The upside penetration of 80 will call for a rebound
towards 80.25 & 80.5.
Comment
: the pair stands below its resistance and remains under
pressure.
![""](http://www.ibtimes.com/"http://www.tradingcentral.com/chart/USDJPY20125171347.GIF")
Opinion published is an intraday view.
Green Lines Represent Resistance | Red Represent Support
Levels | Light Blue is a Pivot Point | Black
represents the price when the report was produced
|
| AUD/USD intraday: under pressure.
Pivot: 1.04
Our preference
: Short positions below 1.04 with targets @ 1.032 &
1.03 in extension.
Alternative scenario
: Above 1.04 look for further upside with 1.0435 &
1.0475 as targets.
Comment
: the pair has broken below its support and remains on the
downside.
![""](http://www.ibtimes.com/"http://www.tradingcentral.com/chart/AUDUSD2012517813.GIF")
Opinion published is an intraday view.
Green Lines Represent Resistance | Red Represent Support
Levels | Light Blue is a Pivot Point | Black
represents the price when the report was produced
|
USD/CHF intraday: under pressure.
Pivot: 0.91.
Our Preference
: SHORT positions below 0.91 with targets @ 0.9045 & 0.903.
Alternative scenario
: The upside breakout of 0.91 will open the way to 0.912 &
0.914.
Comment
: the pair is under pressure and is challenging its support.
![""](http://www.ibtimes.com/"http://www.tradingcentral.com/chart/USDCHF20125171448.GIF")
Opinion published is an intraday view.
Green Lines Represent Resistance | Red Represent Support Levels |
Light Blue is a Pivot Point | Black represents the
price when the report was produced
Original Source:
http://www.ibtimes.com/articles/335526/20120501/asia-trading-update-fx-gold-oil-equities.htm
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