Tuesday, October 20, 2009

20091020 1810 FCPO EOD Daily Chart Study. Still Okay.

Crude palm oil futures closed lower today at 2180 down 17 points due to unexciting export figures released by two export cargo surveyor and some negative news affecting a weaker soy oil price on the futures market. At closed, today's black bar candle still keeping itself above the mid Bollinger Band shows that market tone has yet to turned negative. Bollinger Band width wider by a small degree signaling that market can resumed its upward movement anytime. MACD Histrogram stay nearly unchanged resulting a rematch tomorrow between buyer and seller. 
When to Buy : Buy on dip or break up with larger cut loss and profit targer.
When to Sell : Sell only price break below mid Bollinger Band.

20091020 1748 Dow Jones EOD Daily Chart Study.

The Dow remained bullish after a pull back black candle to stand above the 10,000 level that current served after the defense line. With all the indicators on the image also giving bullish biased signal, further upside movement for the Dow remained favorable.

20091020 1728 FKLI EOD Daily Chart Study. Exhausted.

After reaching a exhausted new high of 1273.5 in the morning session, profit taking selling pressure came into the market once the FKLI opened at the second half to closed 6 points higher at 1271 to form a doji bar candle. At closed, FKLI stay near upper Bollinger Band = Still bullish with some profit taking activities. Bollinger Band width spreading wider shows that market still have further upside buffer. MACD histrogram edged up higher but slower compare to yesterday indicate that only mild profit taking selling pressure exist in the market. Hong Kong Hang Seng futures closed at 50 points discount compare to cash market.
When to buy : Buy on dip or pull back with quick profit and cut loss.
When to sell : Sell for profit only.

20091020 1530 Soy Oil Futures Forming a Shooting Star.

At last look soy oil futures is trading down 0.13 at 37.46 forming a shooting star candle. Seems like the 38.00 resistant level would be a big challenge for soy oil before it can move up further. MACD Histrogram also stayed flat shows that buyer and seller are fighting to take charge.   

20091020 1506 MULPHA Daily Chart Study.

Mulpha daily chart break up spotted yesterday but still struggling to keeping it up today. The immediate resistant level fall on 0.535 follow by 0.585 level. All indicators appeared on the image signals a positive outlook toward Mulpha. A break through 0.585 level will be crucial for Mulpha in order to sustain the upward movement momentum follow by supporting volume. 

20091020 1432 Crude Palm Oil Export Down 1.4% By SGS

Crude Palm Oil Export Down 1.4% to 825,626 tonnes for the period of 1 ~ 20 Oct 2009 by SGS

20091020 1315 FKLI Hourly Chart Study.

Needless to say, super bullish sentiment made FKLI triggered and closed at new high 1273.5 level up 8.5 points. With all the indicators(on the image) calling buy buy buy. FKLI is doing 7.5 points premium over cash market.

Looking at the stock market top ten most volume traded counters are mostly speculative stock giving me a uncomfortable feeling that raised the question : will this be the last leg of the bull run ? I'm sorry to all for having such negative tought in such a bullish sentiment market and I can't really help it. Hope that I am wrong. Just hope everyone adopt the see money take money approach with a cut loss plan when trading.

20091020 1257 FCPO Hourly Chart Study.

Crude palm oil futures gap up but failed to climb higher at the morning session after a almost neutral export figure released by ITS and some bad news development on soy oil futures price due to China delayed importing of soy oil. Price still stayed above and supported by mid Bollinger Band telling us that there still not sign of significant selling pressure in market. FCPO is expected to trade side way range bound due to the narrowing Bollinger Band width development. MACD Histrogram weakening to slightly below zero level indicate that trader might squaring off their long position after a non encouraging crude palm oil export figure and negative soy oil futures price development.     

20091020 0945 Crude Palm Oil Export Up 1.8% by ITS

Crude palm oil export rose 1.8% to 812,095 tonnes for the period of 1 ~ 20 Oct 2009 by ITS cargo surveyor.

20091020 0928 IRIS Daily Chart Study.

IRIS daily chart has break above it 0.165 resistant level. Next target and resistant level for IRIS will be at 0.19 and 0.22. All indicators on the image are showing positive biased movement for IRIS but in order for this movement to sustain, support or increasing volume would be ideal.

20091020 0840 FBM KLCI Daily Chart Study.

Looking at the FBM KLCI chart, all indicators on the image are giving green light for the index to move higher with continuing support of higher volume coming into the market thus market are likely to test new high and follow by profit taking activities.