Monday, October 12, 2009

20091012 1830 FCPO EOD Daily Chart Study. 1~10 Oct Export Good.

FCPO closed 62 points higher to close near the high of the day at 2147 to form a white range bar candle due to better export figure released today. At close price break through and stay above the mid Bolliger Band = Market has break away from it's previous bearish sentiment. Bollinger Band width stay unchanged suggest a neutral movement market. MACD histrogram also rise above the positive territory indicate that there are new buyer comming in with some short covering activity. 

How / When to buy : But at pullback or break up and use mid Bollinger Band as support to cut loss. 

How / When to sell : Sell if price break bellow mid Bollinger Band with cut loss above Bollinger Band.

20091012 1745 FKLI EOD Daily Chart Study. Take a rest.

FKLI climb to a new high at 1243 today follow by profit taking to closed 0.5 point lower at 1237.5. Daily chart still looks strong by staying near upper Bollinger Band.  Bollinger band width continue to widen but price already hit the upper band shows that only limited room available for the market to edge up higher unless Bollinger band width widen on a faster pace. MACD Histrogram risen but not much indicate that seller and buyer ratio are more or less even.

When to Buy : Buy at support pr pull back and park cut loss below support.
When to Sell : Cannot initiate short position, only take profit.

20091012 1729 DJIA Daily Chart Study. Bullish !

DJIA advanced on Friday to closed 78 points higher at 9864.94 to from a white range bar candle. Chart wide, price traded above near to upper Bollinger Band + Bollinger Band width expanding + MACD histrogram rising all giving a bullish sign. It would be ideal to see Bollinger Band width continue to widen with MACD histrogram charge toward the positive zone in order for the bullish momentum to sustain further.

20091012 1640 Regional Market Update.

At last look Europe still trading up firmly. 
Hong Kong Hang Seng Futures is doing about 115 premium to it cash market!

20091012 1540 Soy Oil Futures Standing Firm.

At last look, soy oil futures still trading firmly at 35.55. Bullish still.

20091012 1525 ITS Export Figure Up 3.9%

According to ITS : palm oil export for 1 ~ 10 Oct 2009 up 8.27% to 339,195 tonnes.

20091012 1425. Proton Weekly Chart. Should you buy a proton ?

Looking at Proton weekly chart will trading above mid Bollinger Band with Bollinger Band width continue to widen = Bullish with uptrend still intact. MACD histrogram still stay above positive zone but falling gratually = No much selling activity. At last done price advanced up 11 cents supported with volume today making a swing up after hitting recent low of RM3.91. 

Buy :4.11 
Target : 4.77. 
Stop : 3.89

20091012 1320 MPOB Data.

Malaysia Palm Oil Board September 2009 Data : 

Stock up by 11.5% to 1,578,255.
Export down by 0.38 % to 1,312,056. 
Output up by 4.12% to 1,556,866. 

20091012 1315 FKLI Hourly Chart Study. Proft Taking !

With regional market not trading in positive tone, looks like a bigger profit taking activity took place in the morning session today. FKLI hourly chart traded slightly below mid Bollinger Band = Neutral. Bollinger band width continue to narrow suggesting a side way range trading market. MACD histrogram also comfirming the profit taking by falling into negative zone. Seller took charge currently.

20091012 1255 FCPO Hourly Chart Study. Still holding strong. But..

FCPO ended the morning session up 44 point to closed at 2129. Chart wise still looks strong by trading above mid Bollinger Band after gapped above upper Bollinger Band. Widen Bollinger Band width with also suggesting that market still can climb higher. MACD histrogram stayed flat above the positive territory = No aggresive buying yet. Another factor to look at is the seller out number buyer at 7:3 ratio. This could mean that market is not yet ready to surge upward.

20091012 1245 TIME Weekly Chart Study. New Hope !

TIME's weekly chart looks trading strongly by having an ultra high volume. With price stay near upper Bollinger Band + Bollinger Band width expanding + MACD histrogram climbed into positive territory suggesting strong buying activity are taking place.

20091012 1126 ITS Export Figure Up 8.27%

According to ITS : palm oil export for 1 ~ 10 Oct 2009 up 8.27% to 339,195 tonnes.

20091012 1100 Soy Oil Futures Trading Higher

At last look, soy oil futures is trading higher compare to last Friday 6pm. It has successfully break above the mid Bollinger Band and now stay near upper Bollinger Band = Bullish. 
Bollinger Band width also expanding confirming that soy oil has break away from it sideway range bound market. It is also followed by MACD support that risen indication buyer are coming into the market. Bullish ! FCPO trader can take in opportinity to initiate long position by buying at break up or at support level. Short position should cut their losses.

20091012 0934 By Reuters : "Palm jumps on rumours of strong exports"

"JAKARTA, Oct 9 (Reuters) - Malaysian crude palm oil futures closed up 2.7 percent, as investors rushed to cover short positions in late trade on speculation of higher exports for the first 10 days of the month, traders said.  "We heard rumours that exports are at 339,195 tonnes, or 8.3 percent higher (from Sept. 1-10)," a trader at a Kuala Lumpur-based brokerage said. " By Reuters

2009 1012 0931 FCPO Weekly Chart Study. Waiting for export figures today.

FCPO weekly chart traded higher and stayed below mid Bollinger Middle Band = Bearish. Bollinger band width narrowing suggested that market will stay sideway range bound with the tendency to bounce higher. MACD Histrogram continue to fall but at a smaller scale = Seller still out number buyer. Market will be waiting for export figures by ITS and SGS Surveyor today.

20091012 0908 FKLI Weekly Chart Study. Volume isn't really go in tandem with the price movement.

FKLI weekly chart still trading above mid Bollinger Middle Band = Bullish and uptrend intact. Bollinger band width stay nearly unchanged suggested that market still trading biased to the upside. However, MACD Histrogram getting a little lower compare to previous = Buyer might turned seller to lock in profit. Another thing to take notice is the volume isn't really go in tandem with the price movement of the FKLI. Overall market is still bullish but be alert of profit taking ! Trail stop loss higher as price move higher.