FKLI Preview, Tecknical Outlook 15 July 2013

FKLI Daily technical analysis

The FKLI spot month contract ended slightly higher on Friday which was in tandem with the rise in benchmark index. At the close, the FKLI price up 1.5 points or 0.08 % to 1,789.5.

Based on the daily chart, a small positive candle with lower wick has been formed on Friday where it indicated that the FKLI price was supported at the intraday low level. As we can see in the chart, the price traded in a narrow range after it rose sharply on Thursday. However, the price still managed to stay above the support line for second day. The FKLI price may rise further if it is able to stay above the support line in the coming days.

Referring to the MACD histogram, rounding bottom is forming up. As always, intraday support and resistance levels will be eyed.

Technical indicators

 

MACD= Positive, ADX= Positive，

Intraday technical support & resistance for 15th July 2013

 

1st support 1,785; 2nd support 1,780-75

1st resistance 1,793, 2nd resistance 1,800

GOOD LUCK

FBM KLCI Futures Preview, Technical Analysis 11 July 2013

Preview

Expect futures to trend higher today despite minimal gains in the US market overnight as local sentiments may look towards bullish signals due to encouraging announcement by the Federal Reserve Chairman.

Bernanke’s comments that the Feds will continue its bond buying activities up till the labour market show significance improvement may correlate easing concern of a slowdown in growth in the world biggest economist.

Back home, FBMKLCI gained 0.13 percent to settle at 1768.71. The index traded range bound with an upward bias for most part of the day as sentiments borrowed strength from gains in the US, spurred by better expectations of earning results. Adversely, the upside potential was limited as investors factored in weak external trade data from China, which was made available on the second half of the trading session.

Leading leaders of the index were a mixture of gaming, plantation and telecommunication counters namely Genting, IOI and Maxis. Futures still maintain trading at a premium of approximately 1.5 points from its underlying cash market.

Technicals

Futures settled on a positive note with gains of 0.06 percent to close the day at 1770. Trading was depicted in the formation of a short bodied black candle signalling that sellers managed to outpace buyers for most part of the day. Sentiments remained generally bullish as prices still remains supported at its 20 and 50 day moving averages.

Prices may open lower but if prices managed to break above its 1770 in early morning trades, investors may opt to go long taking advantage of an upward movement in prices. As such support and resistance can be pegged at 1765 and 1780 respectively.

Intraday Strategy

Trade may long with a stop on or below 1760.

FKLI >>> Technical Outlook 23 May 2013

Technicals
Expect futures prices to succumb to further profit taking today ahead of the extended weekend. BSKL will be closed for Wesak Day on Friday.

Futures prices cascaded 0.64 percent, closing at 1776. Trading activities formed a black candle with long upper shadow, implying that
gains posted in the earlier trading session were not sustained. This formed a bearish harami which indicates further downward potential.

The downward price movements managed to bring RSI indicators down from a previously overbought situation.

Additionally, MACD indicators is currently neutral, a signal that bullish momentum is waning. As such, range for the day can be eyed at 1760 and 1785 respectively.

Intraday technical support & resistance for 23rd May 2013:

 1st support 1,770; 2nd support 1,765-60

 1st resistance 1,785, 2nd resistance 1,796-1800

Strategy

Trade may short with a stop on or above 1785.

GOOD LUCK 

FKLI down 0.79% to 1765 on profit taking

FKLI Daily technical analysis:
 The FKLI spot month contract ended sharply lower on Thursday due to Malaysia GDP released worse than expected which had dampened the market sentiment. At the close, the FKLI price dropped 14 pts or -0.79% to 1,765.

 Based on the daily chart, another long negative candle has been formed on Thursday where it indicated sellers remained aggressive throughout the day. During the trading session, the FKLI price went down to as low as 1,762.5 where it had tested the range support level. On the other hand, we should monitor closely whether the price is able to stay above the level of 1,760. If the price breaks and closes below this level, it may drop further.

 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 17th May 2013:
 1st support 1,760-55; 2nd support 1,750-40
 1st resistance 1,775-80, 2nd resistance 1,786-96

FKLI Spot >>> Technicals & Commentary 02 Apr 2013

FKLI Daily Technical Analysis
The FKLI spot month contract ended off low and it managed to close in positive territory on Monday. Meanwhile, cash market closed down 4 pts to end at 1,667.6 points. At the close, the FKLI price was up 3 pts or 0.18% at 1,664.5.

Based on the daily chart, a small negative candle with long lower wick has been formed on Monday where it indicated that price was supported at the intraday lowest level. During the trading session, the FKLI price fell to as low as 1,652 where it hit the 38.2% of Fibonacci level but later it managed to bounce up and closed near the intraday highest level. As we can see in the chart, the FKLI price currently consolidating in a narrow range and we should monitor closely what type of formation it will form in the near term.

Referring to the MACD histogram, rounding top is forming up in the near term. As always, intraday support and resistance levels will be eyed.

Technical Indicators

MACD= Positive, ADX= Positive，

Intraday Technical Support & Resistance for 2/42013

1st support 1,652; 2nd support 1,643

1st resistance 1,678-82, 2nd resistance 1,690

FKLI >>> Analysis and Commentary 19122012

FKLI Daily Technical Analysis:
The FKLI spot month contract ended sharply higher on Tuesday, which had followed strong gains in cash market. Meanwhile, market also reacted positively on signs of progress in U.S. budget talks to avert the fiscal cliff. At the close, the FKLI price added 17.5 pts or 1.06% to 1,664.

Based on the daily chart, a long positive candle had been formed on Tuesday where it indicated that buyers were aggressive for the day. As we can see in the chart, the FKLI price successfully broke and closed above the previous high level at 1,657.5 which had triggered technical buying in FKLI market. Price regained its upward posture after it successfully stayed above the resistance turned support level (1,657.5). If the price is able to stay above the level of 1,657.5 in the coming days, the historical highest level will be watched.
Referring to the MACD indicator, the signal line is crossing above the central line. As always, intraday support and resistance levels will be eyed.

Technical indicators:

MACD = Positive, ADX= Positive，

Intraday technical support & resistance for 19th Dec 2012:

1st support 1,657.5; 2nd support 1,650

1st resistance 1,672 2nd resistance 1,679

 

 

GOODLUCK

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 >>> The Bearish Engulfer With Support And Resistance

Support Seen @ 1581.50

With Another Floor @ 1572.00

(To ENLARGE chart >>> right click mouse >>> "Open In New Tab")

HAPPY TRADING

FKLI Daily Preview >>> February 29, 2012

Preview
Expect futures to trade range bound today with an upward bias after gains in overnight US markets. Investors cited the improved US consumer confidence and the sharp drop in oil prices as the main catalysts. Back home, FBMKLCI settled modestly lower at 1556.73. The index traded range bound after opening at its high.

However, investors took this opportunity to partake in profit taking activities as selling pressure was exerted throughout the day. Some late buying in the late afternoon acted to limit the losses for the day. Leading lags on the index were energy and telecommunication stocks. Market sentiment slightly improved as futures narrowed its discount to the underlying cash to almost parity.

Technicals
Futures settled marginally higher at 1556.0, up 0.1 percent. Futures traded range bound, which experienced selling pressure in the morning session, however this was countered by buying 
pressure throughout the afternoon session. Price action was depicted by the formation of a spinning top candle indicating  indecisiveness as investors await fresh leads. Volume was dominated by roll activities as investors switch their attention on to the March contract. 

As such, support and resistance levels pegged at 1550.0 and 1562.5 respectively.

Strategy : Aggressive trade may short with a stop at or above 1563.0.

GOODLUCK2ALL 

Rollover Activities To Check Downside

FKLI Bulls To Regroup After Festive Weekend
Technically, the index futures is likely break down from the sideways range shown on the chart above. If this event materialize, Selling pressure will likely dominant the market as the index have breakdown from the range.

Volume will serve as a confirmation indicator if the market does correct from here. A good example will be yesterday volume spike during the market retracement, which is noticeably during the late afternoon session.

For today, immediate support level is located around 1,455 follow by 1,445 while resistance is pegged at 1,483 follow by 1,501 level.

HAPPY (BEAR) HUNTING 

ZLBT Random Charts

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HAPPY WEEKEND