Wednesday, October 7, 2009

20091007 1850 UEMLAND Daily Chart Study

Uemland wide range bar candle with spike in volume. Hope there is momentum surge further !

20091007 1840 Soy Oil Futures still playing Ping Pong Game.

Soy Oil futures still playing Ping Pong games and not moving anyway! Last done at 34.34 up 0.08.

20091007 1820 FCPO EOD Daily Chart Study. A Doji Day!

FCPO ended 15 points higher today with a doji candle to closed at 2077. Price edged higher but still closed below Mid Bollinger Band = Market still negative and in a consolidate phase. Bollinger Band width continue to narrowed suggest market will be trading sideway range bound. MACD histrogram continue to rise but still below negative zone = Market trading sideway. Another thing to take notice is that there might be a positive divergence form in the MACD histrogram. Overall, market still trading sideway range bound. So the strategy will be lower to buy and higher to sell. 

When to Buy : Lower to buy with small profit/ cut loss point.
When to Sell : Higher to sell with small profit/ cut loss point.

20091007 1740 FKLI EOD Daily Chart Study.

FKLI ended 6 points higher today with a small white candle to closed at 1223.5. Price edged higher above Mid Bollinger Band = Bullish/upward market still intact. Bollinger Band width continue to expand suggest market will be trading bias to the upside. MACD histrogram continue to rise = still in control of the market. It would be ideal if MACD histrogram to rise above the positive area in order of the upward movement to sustain. Long position trade might need to pay attention when price reached the Upper Bollinger Band to lock in some profit. 

When to Buy : Buy at support or pull back but park small profit/ cut loss point.
When to Sell : Short at ressistant level with wider profit target but small cut loss point.

20091007 1255 FKLI Hourly Chart Study : Still Holding Up But....

FKLI closed on the first half session higher by 5.5 points @ 1223 with 5 points premium againts the cash market. Trading at above Mid Bollinger Band indicate that market is still holding up. On the conflicting side, Bollinger Band width started to narrow plus MACD histrogram flatening might signal a sideway market or perhaps to take a rest before gaining enough momentum to move higher.

20091007 1245 FCPO Hourly Chart Edge Higher.

FCPO opened gapped up, tested the 2100 physchology level and close 36 points higher for the morning session @ 2098. Price ended way above Mid Bollinger Band = Bullish. Having said that, Bollinger Band width stay unchanged for the last 3 candles with decreasing volume raise the sense of worry that the upward movement may have limited upside. MACD histrogram continue to rise higher = buying activity still remained strong. An increast in volume with Bollinger Band widening will be ideal for the market to trend higher.

20091007 1022 Soy Oil Futures Trading Higher @ 34.40

At last done, soy oil future trading higher @ 34.40 near Mid Bollinger Band. Bollinger Band width narrowed by a fraction suggest that market will be sideway range bound. MACD histrogram show a sign of recovery by edging higher. Other catalyst come into play will be the weather development, export figure from MBOP, ITS and SGS. With this FCPO market is likely to gap higher.

20091007 0855 DJIA closed @ 9731.25 up by 113.65.

DJIA made it for the second day to closed higher by 113.65 points. What a serious rebound! 
Price managed to closed above Mid Bollinger Band to form a white range bar with small upper tail = Market will trade bias to the upside with some exhaustion. Bollinger Band width also expanded suggest that there are still room for market to go up further. The upside also confirm by MACD histrogram that has risen.