Friday, November 6, 2009

20091106 1854 FCPO Weekly Chart Study.

A less interesting development in the crude palm oil weekly chart reading as price still hovering up and down near the mid Bollinger band level. However, price did closed above the mid Bollinger band with the band width just started to expand marginally = giving a mild upward biased movement signal. MACD Histrogram also continue to climb higher(but still near zero level) = buyer activities seems continue to persist over the last 3 weeks. Overall market could be in the process of direction discovering phase with a little hint of going upward.      

20091106 1836 FCPO EOD Daily Chart Study.

FCPO ended the day down 1 point to closed at 2246 with lower volume traded forming another doji bar candle. Price managed to test and closed near the upper Bollinger band with Bollinger band width expanded marginally = market still upside biased. MACD Histrogram stay nearly unchanged today = balance activity by both seller and buyer. Overall market is still potentially trade higher with no significant weakness detected currently. Another thing to pay attention will be the chart's plotted resistant line, should this resistant line breached, then market are very likely to trade higher.
When to buy : buy at support/weakness/break up with larger cut loss and profit target.
When to sell : not advisable to initiate short position.

20091106 1802 FKLI Weeky Chart Study.

Technically, FKLI weekly chart still trading in a uptrend market and ended the week with a wide range bar candle bullish engulfing pattern still above the mid Bollinger band = uptrend market still intact. But Bollinger band width continue to turned narrowing = room for market upward movement are lesser unless the band width turn expanding. MACD Histrogram also continue to step lower = buyer participation into the market are decreasing slowly. Immediate support and resistant will be at the mid and upper Bollinger band respectively.

20091106 1722 FKLI EOD Daily Chart Study.

FKLI traded 10.5 points higher today to closed at 1265.5 after Wall Streets closed boldly overnight. Market gaped up at the opening and traded through the day in a 5.5 range market forming at doji bar candle above the mid Bollinger band = market positive sentiment continue. However, Bollinger band width stay narrower marginally = further upside are temporary limited at the upper Bollinger band unless the band width turned expanding. MACD Histrogram continue to swing up slowly = buyer outnumber seller by a small margin. At closed the Hang Seng futures market closed at premium (after a few days in discount) toward its cash market and at last looked the European market are trading up marginally. 
When to buy : buy at support/weakness/break up with larger cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

20091106 1644 DJIA EOD Daily Chart Study.

Returned of the King! Wall streets shows its supremacy yesterday with a strong march forward to closed the Dow 203.82 higher at 10005.96 leading the world major market to trade higher today. Seems like there are some lights at the end of the tunnel to hope for a resume upward movement market. All the chart's indicators calling an end to the current side way market with potential further upside. Having said that, it is also possible for the market to have some consolidation after the market forming the longest wide range bar candle since few months back.

20091106 1623 JAKS Daily Chart Study !

After the previous daily chart study on JAKS, it is now trying to test above the downward plotted resistant line and should price managed to break through and stay above the line with supportive volume, JAKS are likely to trade higher in the near term.   

20091106 1507 Dayang Daily Chart Study.

Dayang has broken above the 1.38 resistant level yesterday with high volume changed hand. The next crucial resistant level will rest at 1.46 level, with support seen on the upward trend line. All the indicators on the chart giving positive signal. Today could be a pull back day due to yesterday price over extended stretch way above the upper Bollinger band.  

20091106 1410 BORNOIL Weekly Chart Study.

Significant increase in volume transaction spotted on Bornoil weekly chart. Once touched through the first resistant level at 0.375 but currently still struggling to maintain itself above it. Crucial resistant rest at the 0.41 level and should this level breached with supportive volume, it is likely to test the 0.495 level. Strong support stands at 0.305 level. 

20091106 1311 FKLI Mid Day Hourly Chart Study.

With the overwhelming DJIA market that closed surprisingly higher last night, FKLI gap up 11 points at the opening and traded side way in the range of 5.5 points to closed at 1264.5 up 9.5 points. Hourly chart wise, market still trading near the upper Bollinger band with the band width expanding = market still bullish. However, MACD Histrogram started turned downward for the last 2 hourly bar = some profit taking activities took place. Overall, the trend is still up.   

20091106 1254 FCPO Mid Day Hourly Chart Study.

Another waiting game on this morning session in the FCPO market that advanced higher at 2263 up 16 points with low volume traded. Still holding up above the mid Bollinger band with the Bollinger band width stayed nearly unchanged = market still trading upward biased. However, MACD Histrogram swinging up and down shows that the market has yet to determine its direction with the indecisive buying and selling activities. Overall market is not in negative sentiment yet but it is also reluctant to move higher at this moment of time. Perhaps more encouraging volume coming back to the market will entice the market to made up its mind to move up higher.