Bollinger band reading : side way range bound little upside biased.
MACD Histrogram : weakening, buyer locking profit.
Support : 1330, 1325, 1318 level.
Resistant : 1337, 1345, 1350 level.
Comment :
Following a weaker major Asia market development, FKLI surrender partial of yesterday gained to closed the morning session lower in sustaining volume traded. Hourly chart reading shows that price touched the middle Bollinger band level and bounce back up slightly indicate that there is temporary support avoiding market to fall lower and market is likely to trade side way range bound with still little upside biased but selling pressure remained strong.
4 comments:
where have u been? i tot u stop provide comment d....good to have u back....Future is crazy...no trend at all.....
Haha ! No la, Just taking off days. Market is side way for FCPO and FKLI going mad and wild side way ranging. Either don't trade or trade with small stop and target. See money take money..... Going to get tough ahead too. =)
Hi Mr.Chong,
Thank you for coming back....ya..i stop future for now...side way and no trend at all, but i heard that when side-way or trading range, moving average is useless, price oscillator is good to provide signal ?
Agree! Well unarguably oscillator works well during side way ranging market as market tense to move up and down just like the nature of the oscillator like stochastic. I would say above this will be your stop loss where u should not missed placing a stop in side way market b'cos after range for a while we as human tense to used to it and the danger part is when the break up occur but we normally think it will come down back. =)
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