FCPO pushed up but does it continue?

15 minutes chart

 

Daily 1-year

The FCPO is speculated to be on the bullish side.However, based on the 15 minutes chart, the FCPO closed at 2190 which is lower than the bolinger band's average line. MACD shows both lines together and not crossing each other until the end of it where there is a very very small drop below the red-dashed line. Regionals on Crude oil and soy oil are both on the red zone with crude oil dropping -2.83 to 69.21 while soy oil drops -0.23 to a 34.87 at this time (quotes stated are as from 11.09pm 21st Sept 2009). Also, by looking on last 15 minute chart, it closed -13 points lower which could spell shorting signs. By looking at this same chart, 7 and 14 MA seems to have crossed each other and it's slightly on the positive turn at the closing. Daily chart shows that 7 MA is shifting a little upwards to cross the 14 MA. MACD shows that the black and red-dashed lines are about to cross.

Well, there are some indicators that shows bullish signs but crude and soy oil seems not to be doing well which could spell trouble for the FCPO. Regional markets especially Europe are also on the red zone and that could explain the big drop in closing last Friday

My Opinion: Short positions, place stop loss at 2210 and long positions, hold on to the position if it breaks 2210.

FKLI pushing strong

15 minutes chart

Daily 1-year

FKLI had been pretty strong throughout the day. Volume picked up in the equities indicating improve interest in the market. Overall regional indexes has been strong throughout the day allowing both index and futures to make new high today. Optimism in the recovery in US has been broadly discussed throughout the media today which supports the overall market.

My Opinion : Hold long position and stop to be moved up to 1195; previous recommended short position should have been closed at 1218

**Chart from OSK's 188OMS

 

Gap covered but what's next for FCPO?

15 Minutes Chart

 

Daily 1-Year Chart

FCPO today continued to rise up further to cover the gap that was done on Monday giving a day high at 2181 which actually had broken the new high of 2180 by one point. This could spell trouble for people who have short positions. Looking at the 15 minutes chart, on 7,14 and 30 MA, it has shown positive signs but MACD shows an that both lines are on the same level. Looking at new highs created, it is could likely be another bounce up. However, base on the Daily 1-year chart, the trend seems to still be down by looking at the 7,14 and 30 MA's but at the tip of the 7 MA, seems to be curving upward but still has no crosses with 14 and 30 MA. MACD also shows for the daily 1-year chart that it is still trending downwards but be alert for spikes.

 

My Opinion: For short positions, place a stop loss at 2195 and for those who have long positions, hold on to it if it breaks 2195. 

**Chart from OSK's 188OMS
 

FKLI showing weaknesses or still strength to bull on?

Daily 1-year 

Weekly 2-years

FKLI showing some weaknesses in the Daily chart but on the weekly chart, it still shows strong bullish upside. Even with regional indexes had shown red the entire day but FKLI managed to hold above its psychological support at 1200 which means that, it's still likely to bull further.

My Opinion : Hold long and place a stop loss at 1185-1190

**Chart from OSK's 188OMS

FKLI to further test resistance

15 mins chart

Daily 1-year

From both charts daily 1-year and 15 minutes chart, indicates that FKLI will push up further to keep trying to break on day high as it closed higher to reach 1210.5. Position is able to sustain above the bolinger band middle average line which means it shall set to test to break for a new high. However, it may retrace abit to 1200 as to cover the gap there.

My Opinion: Hold long at a preferable 1200-1210 position and set a stop loss at 1190. For those who already have a long position, just hold on but be prepared for a small retracement.

**Chart from OSK's 188OMS

Super volatile day for FCPO

Daily 1-year

15 Minute Chart

Like the title says, it's been a super volatile day for the FCPO as it was suppose to be speculated to bull as the market started off with a day high to 2240. Could be due to the extensive supply in the market which brought it down to 2135 later on in the day before it rose back up to 2184 where it closed at. Just 5 points above yesterday's closing. However, the bears still are in position for the FCPO as it closed below 2198.

My Opinion: Just like yesterday, hold short and put a stop loss at either 2240 or 2280.

**Chart from OSK's 188OMS

FKLI to turn to the bears

15 minute chart

Well, as seen in the CI today, it did not manage to sustain above 1200 and it dropped to a 1195.73. It seems that there is nothing to push the FKLI up any further. MACD shows signals of early shorting at 1203. Using 10, and 20 MA, there was another signal after that which signals that the market is going to drop. Regional markets by far do not have any "good news" to lead/drive the FKLI up. Hence, I there will be a slight correction. Bolinger band shows that it will trade sideways in a range by it's band shrinking smaller day by day.

My Opinion: Find a position to short. Preferably somewhere above 1200. For those who had long positions, it's time for you to profit take and exit the market.

**Chart from OSK's 188OMS

Palm Oil On Intersection?

Daily 1-Year

15 minute chart

FCPO was quite strong in bulling today also but could not pass the resistance of 2220 leaving it's support untouched at 2125. Although crude oil raised 4% but the palm oil could not up-bring itself up to a positive zone. What happened could be certain speculators on the daily 1-year chart as it still shows a down trend. What ever the reason is, it clearly indicates some kinda weakness in bulling

My Opinion: Same like yesterday, hold a short position and put a stop loss at 2280

**Chart from OSK's 188OMS

FCPO close opened gap

Daily 1-year chart

15 minute chart

Today, a pretty strong rebound today to cover the gap at 2197. It also surprised me as it really went all the way up to cover the gap and closed at 2210. Nearest resistance would be 2220 while it's support 2125. However, looking at the daily 1-year chart, with periods 10,20 and 30, clearly it shows a down trend.

My Opinion: Hold on to short while putting a stop loss at 2280 would be a good idea.

**Chart from OSK's 188OMS

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