Tuesday, October 27, 2009

20091027 1829 FCPO EOD Daily Chart Study.

Crude palm oil futures closed lower today at 2170 down 48 points. Still managed to keep itself above mid Bollinger band = market is still supported in a side way ranging market. Bollinger band width wider by a fraction = market volatility remained remained in a smaller range. MACD Histrogram fall lower =  seller participation outnumber buyer today. Overall still a side way ranging market. Must monitor US Dollar, soy oil and crude oil price developement closely for direction guide.
When to buy : buy at support or break out with with quick cut loss or profit.
When to sell : sell on strength or if support broken with quick cut loss or profit.

20091027 1809 FKLI EOD Daily Chart Study. Hold the line !

A big doji day for the FKLI to closed 7 points lower at 1254 as market recovered during last minutes still doing 6 points discount to our cash market. At last looked, European market traded slightly higher. At closed Hang Seng futures is doing premium of 21 points towards its cash market. Daily chart wise, nearly touched the mid Bollinger band and bounced up to closed above mid Bollinger band = market continue to consolidate with a downside biased but potential support at the trend line or mid Bollinger band. Bollinger band width also narrowed = a smaller range side way market. MACD Histrogram dived into danger zone for the first time after holding on for 12 days = seller won today battle strongly. It would be crucial to monitor the support level from now on to determine the direction of FKLI in the near term.
When to buy : Buy at support with cut loss few points below support.
when to sell : Sell if support broken with cut loss few points above support.      
OR choose to stay sideline. 

20091027 1607 DJIA EOD Daily Chart Study.

The Dow ended down 109.13 point to closed at 9972.18 below the 10,000 level. Chart wise, closed just below mid Bollinger band = market has just turned into negative sentiment. Bollinger band width also start to narrowing = the downward correction will continue. MACD Histrogram comtinue to falled and into negative territory = seller ruled the market substantially. Current immediate support stand at 9800 level. Coming days will be crucial to see if the Dow can stay at least near the mid Bollinger band before any hope for the market to climb upside.       

20091027 1543 GHLSYS broken the 0.377 resistant level.

GHLSYS has break the 0.377 resistant level today with supportive volume traded. All indicators are giving positive biased signal. With the current over extended spike up, it will be like to have some pull back before surging higher. Next target will be at 0.49 resistant level.

20091027 1525. Rotation play switched to Wimax counters.

Today rotation play switched to Wimax related counter like YTLE, REDTONE and GAPACKET and unloading from banks counters. YTLE is have a surge in volume and break out from the resistant level.

20091027 1450 FKLI Hourly Chart Study.

At last look, FKLI is trading at 1252.5 down 8.5 point. Hourly chart wise, FKLI is trading below mid Bollinger band = market is doing downward correction. Bollinger band width also continue to spread wider = further downward correction is likely. However, MACD Histrogram reversed to turned higher = possible buyer coming to support the market or short covering their position to  locked in profit. Overall we are in a uptrend correction market.

20091027 1245 FCPO Hourly Chart Study.

Seems like FCPO is still not able to detach from the small range trading market with only 18 points range traded. At closed of the morning session, FCPO closed 25 points lower at 2193 after gap down at the opening. Hourly chart wise, FCPO is trading below mid Bollinger Band = market are bearish in the immediate near term. Bollinger band width also expanded = market still have room to go down further potentially. MACD Histrogram continue to drop lower = seller are eager to sell as compare to buyer wills to buy. Overall, FCPO are biased to the downside in the immediate term. 

20091027 1045 Soy Oil Futures Price Dive Paused.

At last look, soy oil futures is trading at 37.86, up 0.28. Seems like the dropping in price for soy oil futures has paused. Should the MACD Histrogram stop falling, then it would be a good chance for soy oil price to recover.

20091027 0912 FKLI 30mins Chart. Will the support hold ?

Looking at FKLI 30mins chart. Current 1253 support level touched and defense come in . Lets see will the support line hold on ?