Wednesday, November 4, 2009

20091104 1805 FCPO EOD Daily Chart Study. Interesting !

Wow ! Another steaming FCPO market today with some last hour action that pushed up the price to closed at 2260, up 70 points due to positive soy oil and crude oil market development. Today's wide range bar candle managed to touched and closed near the upper Bollinger band with encouraging volume traded = market sentiment has turned bullish again. Bollinger band width also responded to the surge by turning expanding = will likely to trade upside biased. MACD Histrogram also turned up higher = buyer dominated the market today. Another interesting development will be the possible forming of inverted head and shoulder pattern break out. 
When to buy : buy at support or break out with larger cut loss and profit target.
When to sell : sell only at breaking down of support with quick stop loss and profit target.

20091104 1725 FKLI EOD Daily Chart Study.

Hoooo! Tongkat Ali powered FKLI ended today with a huge wide range bar candle with encouraging volume to closed 23.5 points higher at 1261 near the high. Price charged through the mid Bollinger band defense line to and closed above it = very initial sign that the uptrend correction might have ended. Bollinger band width nearly unchanged = the side way market still in play. MACD Histrogram turned upwards = buyer's counter attack bares fruits today. Still early to tell if the market will continue the upward movement.
When to buy : buy at support or weakness with quick cut loss and profit target. 

When to sell : sell at resistant or strength with quick cut loss and profit target.

20091104 1654 DJIA EOD Daily Chart Study.

The Dow ended the day with a doji bar candle to closed at 9771.91 down marginally 17.53 points. Traded mostly side way range bound through out the day as not fresh leads the market direction. All indicators on the chart are sending a side way range bound market with downside biased signal. Regionally most Asia market ended positively and at last looked European market also trading mostly higher. At closed Hang Seng futures market is doing 85 points discount towards its cash market. The only catalyst around will the Fed key interest rate announcement.

20091104 1255 FKLI Hourly Chart Study. Triple Bottom Formation.

Wow ! Sterioded FKLI traded higher 14.5 to closed at 1252 near the high and also doing premium against the cash market. Looking at the chart, all indicators also sending positive signal for FKLI to traded higher. Another interesting development will be a possible triple bottom break out formation. Lets see whether will the upward movement sustainable. 

20091104 1240 FCPO Hourly Chart Study.

FCPO traded 39 points higher to closed at 2229 for the morning session today with higher volume transacted compare to the last 2 days morning session. Hourly chart wise, price touched and closed near the upper Bollinger band = positive sentiment returned to the market. Bollinger band width turned wider and wider after market gap up in the morning and traded higher = market are like to move higher should Bollinger band continue to expand. MACD Histrogram also edge up higher = buyer out numbers seller this morning. Overall, the positive sentiment of the morning session has yet to turned bullish without encouraging and sufficient volume coming into the market.

20091104 1056 Faber Daily Chart Study.

Daily chart wise, Faber has broken the 1.11 ~ 1.12 resistant level with high volume traded today. Next immediate target will be 1.22 level. All indicators on chart also suggest positive biased movement but today over extended move might have some pull back effect.

20091104 1025 Soy Oil Futures Trading Lower After Yesterday Surged.

At last look, soy oil futures trading lower down 0.12 at 37.87 after yesterday surged. All indocators on the chart suggest that the market will trade side way for a while before a new direction is establish.