HONG KONG (Reuters) - Asian stocks and the Australian dollar edged higher on Tuesday but shares in Shanghai were highly volatile, keeping nerves frayed about whether another bout of profit taking would hit global markets.
The drop in China's market had a domino effect on other markets, spreading nervousness that rallying asset prices have run ahead of economic fundamentals and weak earnings prospects.
U.S. markets posted their worst loss in seven weeks on Monday, with profit taking also hitting commodities.
"I think macroeconomic indicators in general suggest that things are improving globally and there's no reason to be so pessimistic, but there's not a lot we can do about market sentiment as long as stocks keep on falling," said Noritsugu Hirakawa, a strategist at Okasan Securities in Tokyo.
Japan's Nikkei share average .N225 edged up 0.3 percent as dealers covered their bets against the market, benefiting a mixture of technology and retail companies.
The U.S. dollar and the yen both retained broad gains on uncertainty over the strength of a global economic recovery.
Tuesday, August 18, 2009
Pada gambar diatas terdapat pola head and shoulders dan telah menembus garis neck line, harga akan turun dengan action sell di dekat neckline, dengan stoploss di area shoulder kanan, target 50% dari tinggi head ke neckline. Have a nice trading.