FCPO >>> Trading Only When BREAKOUT, North or South

Can It Gets Any Simpler Than This???

FCPO Daily technical analysis: The FCPO active month contract ended lower on Friday due to bad export figures released by ITS and SGS which had weighed on the market sentiment. Moreover, investors also booked some of their profits ahead of long weekend. At the close, the FCPO price dropped 36 pts to 2,445.

Based on the daily chart, a negative candle had been formed on Friday where it indicated price had been pressured throughout the day. As we can see in the chart, the FCPO price had retreated after it had failed to break above the resistance line as drawn in the chart. To rise further, it needs to break and stay above the resistance line. Otherwise, it may fall back.

Referring to the MACD histogram, it is building in the positive zone. As always, intraday support and resistance levels will be eyed.

Technical Indicators:

MACD= Positive, ADX= Positive,

Intraday Technical Support & Resistance for 29th Jan 2013:

1st support 2,430; 2nd support 2,404-2377

1st resistance 2,488; 2nd resistance 2,525-50

GOODLUCK2ALL

FCPO Daily Technical Analysis 28 Dec 2012

The FCPO active month contract ended sharply higher on Thursday, due to electronic soybean oil prices traded higher which had boosted the local market sentiment. At the close, the FCPO price had added 49 pts to 2,479.

Based on the daily chart, a long positive candle had formed on Thursday where it indicated that buyers were aggressive throughout the day.  During the trading sessions, the FCPO price went up to as high as 2,484 where the upside gap nearly covered. As we can see in the chart, the trend is positive as it building up higher high and to rise further, it need to break above the psychological level of 2,500.
Referring to the MACD histogram, a rounding top is forming up. As always, intraday support and resistance levels will be eyed.

Technical indicators

MACD= Positive, ADX= Positive,

Intraday Technical Support & Resistance for 28th Dec 2012

1st support 2,420; 2nd support 2,380-50

1st resistance 2,490; 2nd resistance 2,550-70

 

GOODLUCK

FKLI Daily Market Commentary >>> FKLI

FKLI Daily Technical Analysis

The FKLI spot month contract expired unchanged but the benchmark index closed solidly higher due to market sentiment lifted from the 2013 Budget announced on Friday. At the close, the FKLI price was unchanged to 1,633.5.

As we can see in the chart above, the FKLI price had tested the resistance line as drawn in the chart but it failed to break above the resistance line. However, we should monitor closely if the price is able to break and closes above the resistance line, it will rise further and the previous high level will be monitored. Otherwise, it will fall back if the price is unable to break above the resistance line.

Referring to the MACD indicator, the MACD line just crosses above the signal line where the positive sentiment may be building up. Meanwhile, MACD histogram just building up in the positive zone. As always, intraday support and resistance levels will be eyed.

Technical indicators:

MACD =  Negative, ADX=Negative

Intraday technical support & resistance for 01 st Oct 2012

1st support 1,628; 2nd support 1,620

1st resistance 1,638-45; 2nd resistance 1,652

 

GOODLUCK2ALL

FKLI >>> Bears To Check Bullish Upside, Sideway Trading Envisaged.

FKLI Daily Technical Analysis:

The FKLI spot month contract closed lower on Friday as regional markets traded lower coupled with market took their cues from the overnight bad performance on DJIA weighed on the market sentiment. At the close, the FKLI price was down 6 pts or -0.36% to 1,648.5.

From the daily chart, price retreated to as low as 1,645.5 in the late trading session and it had formed a negative candle on Friday. As we can see in the chart, price briefly broke below the uptrend support line but it was able to bounce back and closed slightly above the uptrend support line. Our review remains unchanged, where the price is able to stay above the uptrend line, it may bounce back. Otherwise it may fall further if it violates and closes below the uptrend support line.

Referring to the MACD lines and MACD Histogram, both indicators are not providing a clear signal at the moment. As always, intraday support and resistance levels will be eyed.

Technical indicators:

MACD= Neutral

ADX= Positive

Intraday technical support & resistance for 27th Aug 2012:

1st support 1644-40

2nd support 1633

1st resistance 1657.5

2nd resistance 1662

 

HAPPY TRENDING

FKLI Bears Threaten The Alternative Supports

 

FKLI Daily technical analysis:

The FKLI spot month contract closed slightly higher which was in tandem with the gain in FBMKLCI despite regional markets weakened did not affect much on local market sentiment. At the close, the FKLI price was up 3.5 pts or 0.21% to 1,649.

 

From the daily chart, a long positive candle formed with long upper wick where it indicated that price had been pressured when it hit the intraday highest level. As we can see in the chart, price had created a new high which is 1,655, but it was unable to stay above that level. During the trading session, price opened lower but later it managed to bounce up from the intraday lowest level and closed above the uptrend support line. As usual, the uptrend support line will still be monitored and if the price is able to rebound from that level, it may challenge the resistance line again. However, if the price breaks and closes below the uptrend support line, it may fall further.

Referring to the MACD Histogram, it is building up in the negative zone while the MACD indicator do not provide a clear signal as the lines are moving flat. However, we still need to monitor closely the change in MACD line in the coming days. As always, intraday support and resistance levels will be eyed.

Technical indicators:

MACD= Neutral

ADX= Positive

 

Intraday technical support & resistance for 23rd Aug 2012:

1st support 1644-40

2nd support 1633

1st resistance 1656

2nd resistance 1662