Thursday, October 15, 2009

Attention please !!

Ok boys and girls, all eyes on today markets.
Market Brief:
-Dow Jones hits the 1st 10,000 mark and Dow Futures still trading on discount. Something fishy going on ?
-Regional share market went up on average 2%.
-Crude oil set another day high as it was traded $75.89 /barrel as now, the highest since Oct 14 2008.

What do you think it will do for our market, KLCI and CPO ?
Let look at the charts before we start to make any conclusion.

FKLI Weekly Chart

Well, guess what if you are firm believer in Fibonacci theory you might want to check this approaching Fibonacci Retracement ratio. This ratios is widely known as the common retracement (resistance in this case) for any preceding trend to reverse or correct. Accuracy is not the key here as the price might not heed to this ratios. Nonetheless, we can have a trade set up if the price pull back around this ratios and manage to create a lower high. When that happen, it should grab the attention of a possible short trade set up. For those who has done a nice job to long the market days or weeks ago, maybe you might want to take profit at this level as there might be a pull back soon.

FCPO Daily chart

Price action indicate that there might be a pull back from the recent breakout as it was traded flat throughout the week. Let see if the price can pull back and create a lower low, maybe next week. If this materialize, there might be a long setup. So, stay tune.

Disclaimer:   The information herein was obtained or derived from sources that we believe are reliable. No liability can be accepted for any loss that may arise from the use of this report. All opinions and estimates included in this report constitute our judgement as of this date and are subject to change without notice.    


  1. Good call on the market - do you have comments on other markets as well? or do you just focus on the Malaysian markets?

  2. Hi there,
    Yes, but I will be more emphasizing local capital and commodities markets at the moment. Still need some time for foreign market as I still need some one good in CSS HTML language to help me restructure the layout and add other useful widget.