Friday, October 16, 2009

20091016 1850 FCPO Weekly Chart Study.

Nothing interesting in the FCPO weekly chart. Market closed higher after attempt to break but still stay below the mid Bollinger Band shows that market still trading sideway range bound. The side way market also been confirmed by the narrowing Bollinger Band width. Having said that, MACD Histrogram has stopped falling and reversed to turn upward suggesting that there are buyer coming in to support the market. A break above mid Bollinger Band followed by supporting volume and Bollinger Band width stopped narrowing would triggered the CPO market toward an upward direction market. Else FCPO will continie to trade sideway next week.

20091016 1838 FCPO EOD Daily Chart. What a tricky day !

What a tricky day for the crude palm oil futures market ! After a big wash yesterday, FCPO washed out a lot of intraday buyer and seller by gaping up, test higher, swinging down low and followed by a last hour push up to close at the high forming an almost hammer candle. At closed, price still stay above mid Bollinger Band shows that market could the trade biased to the upside. But Bollinger Band width telling a sideway range bound market by narrowing tighter. However, MACD Histrogram reversed upward due to buyer returned to the market with the last hour buying activity. Volume traded today also higher by 65% compare to yesterday.

When to buy : Buy on dip or break up with larger stop loss and profit target. 
When to sell : Sell on break down preferably below mid Bollinger Band with quick profit and cut loss.

20091016 1818 Dow Jones Daily Chart Study.

With all indicators also spreading the same message, it is needless to say that the Dow is still bullish, bullish and bullish. The key things here will be spotting an overbought market conditions should the bull run get over excited for a possible pull back to lock in profit or enter again for a swing trade.

20091016 1800 FKLI Weekly Chart Study. Uptrend Still Intact !

FKLI weekly chart still looks strong with price trading above mid Bollinger Band. Bollinger Band width continue to widen suggesting that market still have room to move up further. MACD Histrogram continue to rise but at a slower pace shows that buyer are cautiously optimistic about the market. Volume traded continue to diminishing but overall the uptrend market still intact.

20091016 1741 FKLI EOD Daily Chart Study. Bull Still Ruled !

After a jumping up and down without any clear direction in the morning session, FKLI finally decided to opened the afternoon session with a bold upward movement followed by supporting volume to reached and closed at a Malaysia Boleh new high at 1263 ! Daily charting indicators continue to vote for a upward movement market with strong momentum. Additional to that , the strong movement also falsified the previous possible MACD negative divergent formation. Europe market  also opened in positive tone. Hang Seng futures closed at a 73 points premium against its cash market.

When to Buy : Buy of dip with quick profit and stop loss.
When to Sell : Sell to take profit only.

20091016 1633 JASKITA Weekly Chart Study. Break Up.

At last look JASKITA up 13.33% or 0.02 at 0.17. Weekly chart wise, price bummed up above upper Bollinger Band = Just turned bullish. Bollinger Band width also just turn widen giving an upside biased signal for JASKITA. MACD Histrogram reversed to turn upward shows that buying activity coming in to JASKITA. Should price continue to stay above the mid or upper Bollinger Band, it is likely to test the next 0.23 target.

20091016 1615 DBE Weekly Chart Study. Critical 0.40 level.

At last look, DBE surged wildly up 80.95% at the current moment with significant volume changed hand. Looking at the weekly chart,  all indicator shows bullish signal with some really serious drastic move. Question now is, will this be a one day wonder or will this move sustainable in the coming future. The 0.40 will be a crucial resistant level for DBE. Should price managed to break up and stay above 0.40, it will be likely to climb toward the 0.60 target level. Keep your radar turned on for DBE but should you go in, better not greedy.

20091016 1528 Soy Oil Futures Still Traded Firmer.

At last look, soy oil futures still traded firmer at 37.05 up 0.27. 

20091016 1443 FKLI Hourly Chart Study. Side Way Market.

FKLI closed 4.5 points higher at 1250. Through out the morning session, market still facing difficulties to decide on which direction to go standing in the cross road of a up trend profit taking environment. This can be witnessed on the hourly chart candle bar hovering up and down the mid Bollinger Band. Bollinger Band width also stay unchanged shows that market still trading in side way range bound. MACD Histrogram one bar up follow by one bar down also votting for a non direction movement market. Side way ranging market are likely to continue toward the afternoon session with a possible last hour "weekend effect".

20091016 1243 FCPO Hourly Chart Study. Gap Up Side Way.

After yesterday sell down, FCPO gap up today in respond to soy oil futures market surge overnight. Crude Palm Oil futures ended the morning session up 44 points to closed at 2155 with better volume traded. On hourly chart reading, price still stayed below mid Bollinger Band suggest that the upward movement doesn't look promising yet. Bollinger Band width also unchange since opening indicate a side way range bound market. MACD Histrogram rise gratually show that buying activity are not so encouraging at the moment.

20091016 1038 Soy Oil Futures Continue It Upward Move.

Soy oil futures resumed back its upward movement after taking some consolidate rest. Now trading higher at 37.08 level. Big wash for FCPO long position yesterday follow by a huge gap up this morning. Tricky and Risky!

20091016 1015 KSL Daily Chart Study.

Looking at KSL daily chart, it is in the process of forming a double bottom break up or a possible triple top. The 1.30 to 1.40 levell will be crucial for KSL to determine it future direction movement. Should it break above, which also mean a double bottom break up, then the next target will be 1.60 to 1.70 level. But should it fail to break above and started to retrace downward, then the target will be around 0.80 to 0.75 level.