Monday, October 5, 2009

20091005 1825 FCPO EOD Daily Chart Study.

FCPO closed 5 points lower on low volume with 27 points range today to closed at 2042 forming a small body white bar with upper tail. Market opened gap down by 7 points went to the high of 2057. Price still closed below Mid Bollinger Band = Bearish/down trend intact. Bollinger Band width continue to expand suggest market will be trading bias toward the downside. MACD histrogram lowered = seller still in the market. Volume traded are higher compare to last Friday.

When to Buy : Cannot initiate long position.
When to Sell : Short at resistant or break down with larger profit/cut loss.

20091005 1755 FKLI EOD Daily Chart : Dead cat bounced !

FKLI closed 12 points higher on low volume today due to last minute spike on FBM KLCI cash market(up 10 point due to KLK shoot up RM3.26) to closed at 1216. Managed to closed above Mid Bollinger Band = Anticipated technical rebound came true. Bollinger Band width continue to narrowed suggest market will be trading sideway range bound. MACD histrogram has risen instead of falling = seller closing positions/buyer coming in. Volmune traded are lower by 768 contracts compare to last Friday.

When to Buy : Buy at support with quick profit/cut loss.
When to Sell : Cannot short unless market close below Mid Bolling Band.

20091005 1621 Hang Seng Futures closed @ 20396, only 33pts discount !

Hang Seng Futures closed @ 20396, only 33pts discount compare to Hang Seng Cash Market.

20091005 1456 Soy Oil Futures standing firm

Soy oil still trading side way, standing firm around 34.00 level. We are still in a waiting game.

20091005 1255 FKLI Hourly Chart Study.

Only 854 contracts traded in the first half session. Low volume transacted will lead to lesser participation in the FKLI. Now matter how are all the indicators forming, with this kind of volume, most people will stay sideline. Susah cari makan. Jia Lat Ah :-(

20091005 1245 FCPO Hourly Chart Study.

FCPO opened @ 2031 and trading upward in a small 26 points range in the first session and close @ 2050. Price still trading below Mid Bollinger Band with Bollinger Band width expanding suggest a negative biased sentiment. Price trading upward may due to small partial profit taking as shown in the MACD histrogram.

20091005 0930 FKLI and FBM KLCI Negative Divergence !

Both FKLI and FBM KLCI daily chart also having negative divergence on the MACD.

20091005 0920 DJIA Ended Marginally Lower, Hit Fibbonacci Support Level And Bounce Back .

DJIA hit Fibbonacci support level and bounce back to closed marginally lower. 
Overall, all the indicators signal a bearish market on the DJIA market. The current support level will be crucial, should price break below a possible start of a downtrend market for DJIA. Cross your finger.