Friday, October 9, 2009

20091009 1838 FCPO EOD Daily Chart. Tough Day.

A very tough day to trade on FCPO market today ! FCPO ended up 55points with a small white range bar candle to closed at the high of 2085 but still closed below Mid Bollinger Band indicate the market are still biased to the downside.Bollinger Band width narrowed by a fraction suggest market will still have the potential to go down lower. MACD histrogram rise near to 0 level = buyer are more aggresive that seller.Another possible factor is that seller might close their position due the weekend.

When to Buy : Buy only at break out preferably above mid Bollinger Ban with wider cut loss and profit target.

When to Sell : Higher to short or short on break down with wider cut loss points and profit target.

20091009 1815 FKLI EOD Daily Chart Study. Profit Taking Day.

FKLI daily chart closed 4 points higher @ 1238 to form a doji candle due to profit taking and still trading above the upper Bollinger Band = Bullish but Alert of overbought. Bollinger band width continue to widen suggested that market will be biased to the upside. MACD Histrogram advanced higher into positive territory = Buyer still in control of FKLI. Personally, a doji bar trading above upper Bollinger Band seems to give a potential reversal for buyer to liquidate position impression to me. Having said that, should Bollinger Band width continue to expand further, market does have chance to go up further.
When to Buy : Buy at pull back with quick cut loss and trail stop should there is any profit.
When to Sell : Only sell to take profit, cannot initiate short position. Too dangerous to short.

20091008 1259 FKLI Hourly Chart Study. More volume needed.

After some profit taking activities, FKLI continue to edged up higher to closed at session high 1238.5 with a 4 points range. Price still staying above mid Bollinger Band = Bullish/upward movement still intact. Bollinger Band width also expanded suggest that there still room to go up further but however the MACD histrogram isn't that optimistic by staying marginally lower with low volume traded indicate that profit taking still in play possible due to last trading day of the week. Overall view : Take profit or trail stop higher to protect profit.

20091009 1248 FCPO Hourly Chart Study. Conqestion.

FCPO opened gap up following the development in China Dallian Commodity's palm oil that surge more than 100 points after a long holiday. It closed the morning session at 2062 with 30 point range below mid Bollinger Band = Market is still weak. Bollinger Band width continue to narrowing after market gap up suggesting a congestion market. Even the MACD histrogram isn't showing any sign of strength or weakness by staying flat = Neutral. At last look soy oil still stay flat @ 34.42 level. 

20091009 1030 Soy Oil Futures Craw Up Slowly.

At last look, soy oil futures crawing upward slowly @ 34.43 after hitting the high @ 34.60 retraced.

20091008 0930 US Dollar Continue to Dive !

The dollar fell to a 14-month low against other currencies. With this, commodities will continue to rise. At last, Dalian Palm Oil futures up by 100++. FCPO trader will have to becareful ! 

20091009 0846 Dow Jones Ended 61.29 Higher @ 9786.87

The Dow continue to rise in tandem with all regional market including Europe. Chart wise all indicators also sending a green light for the market to go up and even still room go up further with the immediate target of the upper Bollinger Band. At Last opened gap up @ 1238.