Futures

A contractual agreement, generally made on the trading floor of a futures exchange, to buy or sell a particular commodity or financial instrument at a pre-determined price in the future. Futures contracts detail the quality and quantity of the underlying asset; they are standardized to facilitate trading on a futures exchange. Some futures contracts may call for physical delivery of the asset, while others are settled in cash.

** Source from: www.investopedia.com

Tuesday, September 8, 2009

FKLI on the prowl

Depending on the style you trade, it defers on how you look at the charts. As for me, I am a day-trader and hence, the periods I use will be shorter.



I will be using the 15 minute chart and base on this, FKLI stayed on really strong and close at a high point of 1206 as the CI closed at 1202.07. This is the day high and has broke the 1200 resistance. 10, 20 and 30 moving averages show that it 10 is above 20 and 30 and hence, the FKLI should be looking for a new high now.

My opinion: Hold on to long if it keeps above 1200. Probably you might want to set a stop loss at 1190

**Chart from OSK's 188OMS
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