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Wednesday, May 13, 2015

FCPO Write Up Via Email Subscriber

This is what I'm working on all these while, you can get this email daily delivered to your inbox !!

MPOB Says  Palm oil output in Malaysia, rose 13% to 1.69m metric tons in April from month earlier. 
Stockpiles climbed 18% to 2.19m tons, while exports dropped 0.6% to 1.18m tons.


Long Term Positions updated: 13th May 2015
Inline image 1

Trade 375 is doing fine, for now, I hope FCPO July would charge ahead non stop but unfortunately we are likely to see some retracement today. Reason due, Soy oil was traded 1.2% lower overnight, the last recorded price was 32.96 cents per pound. We are likely to see at least 10 points lower opening for July contract. Overall on short term, palm oil futures is still Bearish, but things might change if the July contract retrace back below 2,140 level again. Bear in mind, stockpiles and output are still rising for the month of May vs Apr. Range for today likely, 2,220~2,180. 

Disclaimer: Information and opinions contained in this report are for educational purposes only. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness.

Thursday, April 9, 2015

CIMB Rewards On The Go

*For obvious reason, the criteria or qualification to win is darken out. Please contact me, +012-560 0912 for further details. Thank you.

Tuesday, April 7, 2015

FCPO: Some Gas To Rally 7th April 2015

Tuesday, 7th April 2015. Palm oil futures manage to break above 2,220 level yesterday, it was the first attempt and Bulls done it. Other news to follow.

"U.S. stocks erased early losses to finish with solid gains Monday, as the Dow industrials rose nearly 120 points. The stock market’s switch to rally mode was attributed to bets that the Federal Reserve will move more slowly in raising interest rates given Friday’s disappointing jobs report. The S&P 500 SPX, +0.66% rose 13.66 points, or 0.7%, to end at 2,080.62, with energy stocks XLE, -0.04%  performing best as crude-oil prices jumped. The benchmark is up 1.1% for the year and stands 1.7% off its March 2 record close. The Dow Jones Industrial Average DJIA, +0.66% gained 117.61 points, or 0.7%, to close at 17,880.85 after dropping more than 100 points out of the gate. The Nasdaq Composite COMP, +0.62% added 30.38 points, or 0.6%, to finish at 4,917.32."

"Oil prices surged to their biggest gain in nearly two months, buoyed by signs of rising demand in the U.S. and Asia. Data provider Genscape Inc. reported that supplies in Cushing, Okla.—a key storage hub and the delivery point for the benchmark U.S. futures contract—fell by nearly 300,000 barrels between March 31 and April 3, according to a broker. Cushing supplies are at a record, and this is first time those stocks have seen a drawdown in Genscape data since early December, the broker said. The data added to momentum for bulls who have been betting rising demand and other factors would reverse a monthslong decline in oil prices. Markets had already been primed for a rally from news over the long weekend that saw Saudi Arabia raise its official crude oil selling price for Asian buyers and the dollar edging lower in value, both boosting hopes of increasing international demand for oil. Light, sweet crude for May delivery CLK5, -0.82%  settled up $3.00, or 6.1%, to $52.14 a barrel on the New York Mercantile Exchange. It was the U.S. benchmark’s biggest day of gains since Feb. 3 and its highest settlement since Feb. 17."

"- Vegoils Market Factors to Watch Monday April 6 

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday April 6.

* Malaysian palm oil futures rose on Friday, ending a second week of gains, but volumes were thin as Easter holidays in some countries sapped interest in markets.
* U.S. wheat futures jumped to their highest level in six weeks on Thursday on worries that rains in the U.S. Plains next week will be insufficient to relieve intensifying drought conditions.
* Brent oil fell nearly 4 percent on Thursday after a preliminary pact between Iran and global powers on Tehran's nuclear program, even as officials set further talks in June and analysts questioned when the OPEC member will be allowed to export more crude. 
* Asian shares rose and the dollar dropped on Monday, after a dismal U.S. jobs report pushed up U.S. Treasury yields as investors pared bets the U.S. Federal Reserve would hike interest rates anytime soon."

FCPO- Rally, Rally, Rally

Bulls get an aggressive start yesterday when the June contract open gap up, easily break above 2,200 for opening session. The rest of the rallied took place on afternoon session when the June contract rallied above 2,220, signifying strong Bullish momentum. Unfortunately, most of the intraday Buyers decide to take profit and force June contract to settle at 2,230 after rallying to 2,250 level. If you are asking whether short term outlook has changed from sideways to Bullish, the answer will be definite YES. There is catch tho, you must Long right after the opening bell starts, because if you get in later, there is no point to tell market has become Bullish as you are not in it. It is an Bullish statement from Bulls, no doubt about that. The curve of yesterday rally was parabolic in shape, the Bulls never look back, not even once all the way to 2,250. The next question would be, whether this rally can sustain all the way to 2,300 ? My initial expectation would be, it would not be an easy task to rally up to 2,300 this week. There would pull back, small rally, then retracement, above all you must know whether your trading horizon / time frame. How much risk is too much for your take profit target. How much percentage of capital you are willing to risk for x amount of profit. It has to be slightly off balance between these two elements, ideally it was taking profit point should be higher than risk %, especially when you are trading on longer term time frame such as 30 minutes and so on. We shall see whether the increase in previous month does matter to help price from recovery this week.

Daily Pivot Point

 Disclaimer: Information and opinions contained in this report are for educational purposes only. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness.

Friday, March 20, 2015

FPCO: Swift Come Back For Bulls 18th March 2015

Thursday, 18th March 2015.  Palm oil futures for Jun contract went up substantially after hitting 2,128 level, Soy oil did provide some assistance by recovering on the Asia trading session. Other news to follow.

FCPO- It Would Not Be A Straight Line Recovery Nor Down Trend

Every time the market moved substantially, it will caught most traders off guard, always. You can see it when the market move substantially, it kept on heading to the same direction with force behind and most traders who does not re-act will be caught off guard. And when these traders realized it has to bite the bullets and exit, it will be a painful losses to bear. This is what happen every time the market move, it does not matter where does it move, move up or down, sideways, it doesn.t matter at all. The point is, price will sometime kept on breaking the support and resistance because there are alway traders getting caught off guard, those traders have to force exit their positions to stop from bleeding. There is always some poor bastard caught off guard when the market moved, and they can give you even the most ridiculous reason why they cannot re-act. Back to market outlook, FCPO Jun no doubt manage to recover most of its this week losses. And the Bulls did it with style, the Jun contract went up about a whopping 2.48% higher to settle at 2,193 level yesterday. There is no deny, Bulls were present yesterday starting from the beginning of afternoon session. What lies next might be the first immediate resistance level around 2,220, and if this level is taken out, short term outlook may return to sideways. Currently the Bears are still holding the trump cards for the moment, but all this can change if the price kept on recover above 2,220 level this or early next week. However, there are a few short term concern that might curb this recovery, steady slow down on palm oil export, soy oil and crude oil were generally still on Bearish trend in both short term and long term. For today, support for the Jun contract is located around 2,149 while ressitance is pegged at 2,237

Daily Pivot Point
R2= 2237
R1= 2215
S1= 2149
S2= 2105
 Disclaimer: Information and opinions contained in this report are for educational purposes only. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness.

Thursday, March 5, 2015

FCPO: Palm Oil Retrace From 2,400 5th March 2015

Thursday, 5th March 2015. Palm oil futures dive down after hitting 2,400 for the benchmark month, maybe the ship has sailed too close to the shore and hit some rocks. Other news to follow.

"-U.S. stocks declined for a second consecutive session on Wednesday, sending the S&P 500 to the lowest level in two weeks. Investors remained cautious ahead of the closely watched official jobs report, due on Friday, amid mixed economic data this week. Private-sector employment data on Wednesday showed continued gains in February but at a slower pace than in the prior month. Meanwhile, a gauge of activity in the services sector edged up last month. The S&P 500 SPX, -0.44% closed 9.24 points, or 0.4%, lower at 2,098.54. The Dow Jones Industrial Average DJIA, -0.58% dropped 106.41 points, or 0.6%, to 18,096.96. The Nasdaq Composite COMP, -0.26% ended the day down 12.76 points, or 0.3%, at 4,967.14."

"-Hong Kong stocks extended losses Wednesday, as markets cautiously wait for China to reveal its major economic programs and targets for the year.
The Hang Seng Index HSI, -0.96%  closed 1% lower, while the Hang Seng China Enterprises HSCEI, -1.73%  , which tracks Hong Kong-listed mainland Chinese companies, was down 1.7%."

"-Oil futures settled higher on Wednesday even though the U.S. government reported a much bigger-than-expected increase in weekly crude supplies. Analysts said prices likely found support on the heels of Saudi Arabia's decision to raise prices for its Arab Light crude and comments from the country's oil minister - both of which implied growing demand for oil. April crude CLJ5, +0.19% rose $1.01, or 2%, to settle at $51.53 a barrel on the New York Mercantile Exchange."

FCPO- Impending Correction

2,400 was a panic button for most traders previously, it is where the implementation of export tax if the price went above this level. Even tho the government has decide to extend the zero cost export tax, most traders still think 2,400 was too hard to penetrate. You all saw it yesterday when the benchmark month just touch 2,400 level and boooom, start retracing from that level. To make matter worse, price went haywire from 2,382 level and below, jumping down to 15 points lower straight. Few lots were done between that, but most stops were done at 2,365 level. Yes, it is a vicious vacuum, things happen all the time, you can blame it to the market depth, no Buyers standing by or anything you can come up, it is pointless anyway as things already happen. The best action would be charting the next steps you need to take. As a trader, one must be prepare for anything, market vacuum is one of it. Back to the outlook, yesterday significant correction may signifies first sign of weakness. It may not look much on daily chart but when you zoom into intraday chart, it become clearer that there is huge rejection from 2,400 and the May contract does ended around the low of the day. To make things worse, Soy oil dipped to 32.28 cents as the time of writing compare to 32.85 cents on yesterday 6.00PM. Now there are news that pointing at lower production cycle for this year and this event may eventually reduce stockpiles but that news is too subjective for me to make any decision of any form in the market. Yes, dumb the news please, it got nothing to do with me, at least. For today, pivot support for the May contract is located around 2,327 while resistance is pegged at 2,373.

Daily Pivot Point
 Disclaimer: Information and opinions contained in this report are for educational purposes only. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness.

Wednesday, February 25, 2015

FCPO: Palm Oil Demand In Concern

Wednesday, 25th May 2015. Palm oil futures made some significant recovery yesterday amid oversold reading since last Monday. Other news to follow.

"-U.S. stocks moved higher Tuesday, with the S&P 500 and Dow industrials closing at records, as the market read Federal Reserve Chairwoman Janet Yellen’s testimony before Congress as a reassurance that a rate hike might not occur until the second half of the year. The S&P 500 SPX, +0.28%  finished up by 5.82 points, or 0.3%, at 2,115.48, while the Dow Jones Industrial Average DJIA, +0.51% gained 92.35 points, or 0.5%, to end at 18,209.19. The Nasdaq Composite COMP, +0.14%  added 7.15 points, or 0.1%, to end at 4,968.12, leaving it just 1.6% off its March 2000 peak. The tech-heavy index advanced for the 10th session in a row, scoring its longest winning streak since mid-2009, when it rose for 12 straight days."

"-The U.S. crude-oil benchmark failed to hold on to initial gains Tuesday, losing ground for a fifth straight session as traders awaited the latest round of supply data. On the New York Mercantile Exchange, West Texas Intermediate crude futures for delivery in April CLJ5, +0.00% lost 17 cents, or 0.3%, to close at $49.28 a barrel. WTI’s losing streak is the longest since August. Brent crude for April delivery LCOJ5, +0.26%  on London’s ICE exchange also failed to hold on to initial gains, dropping 24 cents, or 0.4%, to close at $58.66 a barrel."

FCPO- Demand Have To Pick Up, Or Else.

Palm oil futures for May contract manage to recover up to 2,259 level from 2,216 yesterday. The recovery made happen in the afternoon session when Soy oil starting to climb from 31.33 cents per pound to 31.55 cents per pound before FCPO trading time came to stop at six o'clock sharp. It was a strong come back for the May contract as price kept on recovering ever since of the beginning of afternoon session. What drove these recovery might be oversold reading occur on Monday as panic Selling reign the condition of the market on last Monday, weaker than expected Soy oil also gave some push to the downside as well. First quarter will be a low season for production usually but this element would change on second quarter as production is likely pick up soon after that. Technically, May contract rebound was a first attempt to overturn the overall short term Bearish outlook back to sideways. Long term wise, it is still a Bullish market judging on daily chart. The rest of the recovery may have to depend on how well the Soy oil recover for the rest of the week. So far, Lower highs and lower lows have been formed on hourly chart and this signifies Bears can quickly gain control if other edible oil starting to decline. For today, pivot support for May contract is located around 2,229 while resistance is pegged at 2,287.

Daily Pivot Point
R2= 2287
R1= 2272
S1= 2229
S2= 2201
 Disclaimer: Information and opinions contained in this report are for educational purposes only. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness.

Tuesday, February 17, 2015

Happy Chinese New Year 2015

Happy Chinese New Year 2015 to everyone, stay healthy always !!

Wednesday, February 11, 2015

FCPO: 2,400 Level Export Tax Curb Palm Oil Recovery 11th Feb 2015

Wednesday, 11th Feb 2015. Palm oil futures is still playing its little upward and downward swing, in a good way I presume. Other news to follow.

"- U.S. stocks rallied at the end the day Tuesday, sending the benchmark S&P 500 to its highest close this year, during what was another characteristically volatile day for equities. Investor optimism was fueled by hopes that embattled Greece and its creditors are nearing a compromise to avert a default, even though both sides continued to reiterate statements that suggests an accord is far from imminent. Earlier in the trading session, European and U.S. equities got a boost after news reports offered hope that the European Commission was considering a six-month debt extension. However, investors remained optimistic even though rumors of an extension were dismissed by Germany’s finance minister Wolfgang Schäuble. The S&P 500 SPX, +1.07%  closed 21.84 points, or 1.1%, higher at 2,068.58 and turned positive for the year. Nine of the 10 main sectors finished higher, while energy-sector stocks ended with modest losses, following a drop in oil prices. The Dow Jones Industrial Average DJIA, +0.79%  jumped 139.55 points, or 0.8%, to 17,868.76, with 26 of its 30 member ending with gains. The Nasdaq Composite COMP, +1.30%  added 61.63 points, or 1.3%, to 4,787.64, helped by a big gain in Apple, Inc., the heaviest-weighted component in the tech-laden index."

"- Hong Kong stocks saw their earlier losses melt away and closed marginally higher at the close of Tuesday’s trading. Data showing China’s consumer-price inflation at its lowest in five years, was balanced by news that the Chinese central bank had injected liquidity into the markets helping the sentiment. The Hang Seng Index HSI, -0.06%  ended in positive territory, up less than 0.1%."
"-Crude-oil futures fell more than 5% Tuesday to their lowest settlement level in nearly a week as concerns about a persistent supply glut resurfaced ahead of weekly U.S. inventory updates. Light, sweet crude futures for delivery in March CLH5, +1.48%  on the New York Mercantile Exchange fell $2.84, or 5.4%, to settle at $50.02 a barrel. That was the lowest settlement level since Feb. 4."

FCPO- Bulls Have To Wait Longer

Palm oil futures would be running its course of direction downwards for the moment, after some Bearish candle formation appeared yesterday. The lower high and lower low candle formation formed on hourly chart is early sign that April contract may suffer higher downside risk. Most of the Sellers manage to overcome Buying interest when the price made it to 2,342 yesterday. It was a brief rally and turn out to be profit taking activities right after the April contract hit 2,342 level. The long Bearish solid candle signifies there was a lot of Selling pressure right after the market resume on 3pm yesterday and all the way to 4pm. It is a sign that the palm oil futures is likely to go down, but not a definitely it would go down for sure. No one can tell for sure what is going to happen on the next 30 secs, nevermind the next day. Discipline and pro-active risk management is what seperated the novice and informed trader. The novices always think about when and where they can hit the jackpot while an informed trader would always think about how to protect themself each time the positions are entered. If you heard about the old race between tortoise and hare, the odds were against the tortoise but in the end it was the tortoise who won the race. Trading futures or any financial market is a journey, and it will be a long journey to get wise. For today, pivot support for April contract is located around 2,262 while resistance is pegged at 2,331.

Daily Pivot Point
R2= 2362
R1= 2331
S1= 2281
S2= 2262
 Disclaimer: Information and opinions contained in this report are for educational purposes only. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness.

Wednesday, January 28, 2015

FCPO: Weak Demand And In-active International On Edible Oil Transaction Curb Price 28th Jan 2015

Wednesday, 28th Jan 2015. Palm oil futures went down for another week since 15th Jan 2015 and never look back. The rejection on price 2,394 was a rather substantial and no one can tell for sure it would become this bad. Other news to follow.

"- U.S. stocks recorded their biggest decline in three weeks on Tuesday, following a surprise drop in durable-goods orders and disappointing earnings from Microsoft Corp. and Caterpillar Inc. The weak data stoked fears that economic growth is decelerating The S&P 500 SPX, -1.34%  closed down 27.53 points, or 1.3%, at 2,029.56, as Microsoft Corp. MSFT, -9.25%  and Caterpillar Inc. CAT, -7.18%  plunged to lead losses. The Dow Jones Industrial Average DJIA, -1.65%  dropped as much as 380 points, but closed down 291.49 points, or 1.7%, at 17,387.21. The Nasdaq Composite COMP, -1.89%  ended the day with a loss of 90.27 points, or 1.9%, at 4,681.50, as its largest component, Apple Inc. AAPL, -3.50% slid 3.5%."
"- Chinese stocks broke a five-day winning streak on Tuesday, as Hong Kong and Shanghai markets both pulled back amid concerns fueled by a drop in the profit growth at major Chinese industrial companies and a previous sharp fall for China’s yuan. At the same time, Japanese stocks advanced to one-month high, after Greek election results impacted global markets by less than expected Monday. Hong Kong’s Hang Seng Index HSI, -0.41%  retreated 0.4% to 24,897.28, after touching a four-month high in the previous close. Over on the mainland, the Shanghai Composite Index SHCOMP, -0.89%  fell 0.9% to 3,352.96, also pulling back from its best closing level in more than five years. The declines came after official data showing that profit at major Chinese industrial companies grew 3.3% year-on-year in 2014, down sharply from a 12.2% increase in 2013."
"-Crude-oil futures rose more than 2% on Tuesday, as some optimism about curtailing output seemed to permeate markets and ahead of a fresh weekly report on stockpiles. Light, sweet crude futures for delivery in March CLH5, -1.84%  rose $1.08, or 2.4%, to settle at $46.23 a barrel on the New York Mercantile Exchange. The settlement snapped a three-day losing streak. Prices had weaved in and out of the red earlier in the day, trading as low as $44.81 a barrel and as high as $46.55 a barrel."

FCPO- Still A Long Way To Go For Bulls To Regain Power

The benchmark April went down again and this time with some consolation prize. Instead of keep on going down the April contract did recover slightly yesterday from 2,151 level to 2,184 level on late afternoon session. This might be a good news for those who have Longed slightly below 2,200 level, and that is all the break you can get as Bearish tone in palm oil futures is yet subside. Today, palm oil futures is likely open lower amid recent weakness in Soy oil. The actively traded April contract on Soy oil dropped back to 30.87 cents per pound, which is likely giving negative opening to palm oil futures soon. Technically, lower lows and lower highs formed on hourly chart are the key sign for the market to go down two weeks ago. As a trader, these chart formations are very hard to ignore, and as a trend trader you better take action. It is simple for our eyes to see what happen in the chart, but most of us choose not to trust and act on it. That is a also a simple fact on why most traders failed, seasoned or new traders would go into the same loop of failure if they expect different results doing the same thing. The problem with our society was, smart people are full of doubt and foolish people are full of confidence. In case of trading business, smart people was too smart to act on the chart, smart people takes in news and whatever factor they can come up with, just another good reason for them to pull the trigger. For smart people, chart is too simple to begin with. It is a fatal mindset in trading business to think everyone act the same with similar information appear on the chart. Well, for foolish people, it is the direct opposite of smart people in the trading business. So, which kind of trader you would wished to be, a perfect compromised would be being smart and foolish at the right timing.
For today range, palm oil futures for April contract is likely hovering within 2,185 to 2,146 level.

Daily Pivot Point
R2= 2206
R1= 2195
S1= 2162
S2= 2140
 Disclaimer: Information and opinions contained in this report are for educational purposes only. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness.

Tuesday, January 20, 2015

FCPO: Its A Swift Selling From 2,394 to 2,300 20th Jan 2014

Tueday, 20th Jan 2015. Palm oil futures has its run down from the peak 2,394 to 2,298 previous Friday and this new weekly break out might not sustain. Other news to follow.

"- U.S. stocks ended the roller-coaster week on a high note, as a rally in oil prices and calmer currency markets provided a rare boost of confidence. The main benchmarks broke a five-day losing streak, but still ended the fourth-straight week with losses. The S&P 500 SPX, +1.34% closed up 26.75 points, or 1.3%, at 2,019.42, but was down 1.2% over the week. The Dow Jones Industrial Average DJIA, +1.10% gained 190.86 points, or 1.1%, to 17,511.57, and lost 1.3% over the week. The Nasdaq Composite COMP, +1.39% ended the day with a gain of 63.56 points, or 1.4%, at 4,634.38, and recorded a 1.5% weekly loss."

"- Chinese stocks dived the most in over six years Monday, with a wide sell-off sweeping across the financial sector as investors turned jittery over the latest move by securities regulators to clean up the margin-trading business. The benchmark Shanghai Composite Index SHCOMP, -7.70%   plunged 7.7% to close at 3,116.35, posting its biggest daily percentage decline since June 2008 . Prior to Monday’s heavy loss, the index was up 4.4% for the month to date, extending gains after finishing 2014 with a sharp 53% advance. The plunge in mainland China helped to push Hong Kong’s benchmark Hang Seng Index HSI, -1.51%  down 1.5%, with the Hang Seng China Enterprises — which tracks Hong Kong-listed mainland Chinese companies — off 5%."

"-Crude-oil futures pushed lower in volatile action during European trading hours on Monday, as another investment bank slashed its price forecasts and investors braced for another week of potential market upheaval. On the New York Mercantile Exchange, light, sweet crude futures for delivery in February CLG5, +2.92%  traded at $48.17 a barrel in recent trade, down 63 cents, or 1.3%, in the Globex electronic session. March Brent crude LCOH5, +0.18%  on London’s ICE Futures exchange fell 52 cents, or 1%, to $49.63 a barrel."

FCPO- No Straight Line Here

Market is full of surprises, at least for my case. There is no telling whenever the trend is coming or it doesn't at all. I am talking about the recent weekly upside break out on FCPO April which made the price break above from previous high at 2,384 level. According to most text book or trend trading manual so to speak, most of these medium term to long term trader would to place their bet if the price manage to break out from certain high. I believe previous Friday break out was at least one week high and those who was targeted to go Long on the next break out would likely went in to Long position. Unfortunately, these types of trade only bring out small percentage of winning ratio. Most of these kind of break out does not rally to the next significant resistance level, example for this case, 2,400 point. What we have now is a heavy profit taking, retracement or whatever you can call it. The fact is, all of the gain made last week was wipe out in a few hours when the April contract strike down to 2,298. It is futile to find out what happen in the background of that drop because market is always evolve and changing. What we can do now, would be charter our next direction, do we bet all out on this retracement or do we wait for further rally to go Long / Short. The best thing to do now will be setting your position to Long at the previous Friday low around 2,300, placing tight stop loss and wait for the market to rally the next hour and eventually hitting the previous high if lucky. If unlucky, we might just cutting loss on a small margin. Vice versa if the market is going up, resistance is pegged around 2,348 for the moment. Set your Short position around that resistance area, place tight stop when your Short position filled and wait. Just wait  until your stop hit or hold overnight if the market is favoring you. That was part of the game plan if you wish to trade in this temporary ranging market.

Daily Pivot Point
R2= 2348
R1= 2326
S1= 2292
S2= 2280

 Disclaimer: Information and opinions contained in this report are for educational purposes only. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness.