Tuesday, November 3, 2009

20091103 1808 FCPO EOD Daily Chart Study.

Crude palm oil futures traded lower today down 18 points to closed at 2190 with relatively lower volume changed hand. Today short bottoming tail black bar candle ended still above the mid Bollinger band and within a tighter Bollinger band width = still in side way range bound trading. MACD Histrogram taken a small step lower = only mild selling activities take place today. Looks like the side way market will stay a little more longer. 
When to buy : buy on weakness with quick cut loss and profit target. 
When to sell : sell on strength with quick cut loss and profit target.

20091103 1718 FKLI EOD Daily Chart Study.

FKLI ended the day negatively today to closed 1237.5 down 8 points forming a topping tail black bar candle. Continue traded below the mid Bollinger band within a narrowing Bollinger band = the side way market still in play. MACD Histrogram tested lower = seller out number buyer in the market today. Should the Bollinger band width turned expanding out, then we should see more selling pressure come into the market.
When to buy : buy at support with quick cut loss and profit target.
When to sell : sell on strength or break down with larger stop and profit target.

20091103 1652 DJIA EOD Daily Chart Study.

Indeed, the Dow did recovered some of the last Friday panic losses to closed 76.71 higher at 9789.44. Daily chart wise, the Dow formed a doji bar candle that closed below the mid Bollinger band = bearish sentiment still haunted the market due to previous bailout market pain memory still fresh among traders. Bollinger band width turned narrow marginally = market tends to move side way range bound in ther near term. MACD Histrogram taken a small step lower = seller covering most of their position due to last Friday over done selling activities. Immediate support fall on around 9630 level. Overall, DJIA are like to trade side way downward biased. At the closed, Hang Seng index future is doing 130 point discount compare to the cash market and at last look major European market also traded negatively.          

20091103 1547 Soy Oil Futures Trading Lower.

Soy oil future seems facing strong resistant after attempted twice to climb above the 37.00 level. Chart wise, soy oil still trading biased to a downward side way market with both Bollinger band and MACD Histrogram reading also giving negative signal. 

20091103 1357 FKLI Hourly Chart Study.

The same goes to FKLI that's been ranging the whole morning in the range of 5 points to closed 1 point higher at 1246.5. Closing still above mid Bollinger band with Bollinger band width narrowing will take FKLI into range bound market. However, MACD Histrogram getting lower gratually with the last few candles topping tails show some weakness for the market to push up higher. Regionally, a very mixed view happening to the Asia market with Nikkei closed, Hang Seng down by 154 points and Shang Hai up 40 points.

20091103 1243 FCPO Hourly Chart Study.

Another slow and low volume transaction morning session today for FCPO that closed 12 point lower at 2196 after gap up at the high of 2221 and dive down. At closed of the morning session, FCPO still maintaining itself above mid Bollinger band within the contracting Bollinger band width = directionless side way range bound market. MACD Histrogram also stayed flat without encouraging volume = not serious activities performed by both buyer and seller. Looks like another waiting game today for the afternoon session to look out for more volume and direction before taking any action.