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

Friday, September 11, 2009

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
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