Palm | Kelapa Sawit

Malaysia Futures Trading FKLI 60 minute Chart By Tokan Corner :

As  the chart based on Andrew Pitchfork show it does meet my expectation. The FKLI  rally back to upperline of Major Andrew.

Slow Stoch still showing some bullish power energy l… the MACD showing on the some good view too .

The problems is the market has entered a sell signal at 1489 on previous week. And now being resisted by SMA 20. Our next resistance is at SMA 50 that is at 1489 / 1490 zone area.

As we can see on 60 minute chart, the Spot Market stopped at 1477 after being resisted by SMA 20 and it also has stop below the Upper Line Of Major Andrew. The market yesterday being in rally mode when DJIA Futures began it move around +140 point but in the end the DJIA only gain +37 on it indicies.

So beware for any uncertainty ok traders. Watchout for any sneak attack :p

 Will the rally breakthrough from this downtrend?

Well i have asked this question last week and I still answering the same  answer is “ NO”

As on chart the support on Major Andrew Pitchfork Upper line will be tear off by the “ Panic Selling Again” thus we need to watch 1483-1435 trade range ( midline range support).

P/S : TC has entered short at 75 on AUG and stuck now and as to hedging my losses I have long on Sept at 71.5 to minimize my losses it the dow was so bullish on last night. Now im hoping both of my entry can make money J

Remember to watch at midline of Major Andrew and Upper Line If there was any breakout !!!

Magic Word Is

“1. SELL AT RESISTANCE  

2. BUY ON DIP AND J”

Read more my previous post :

·         DJIA Commentary : Stocks Close Modestly Higher But Well Off Best Levels

·         BURSA MALAYSIA FKLI FUTURES TRADING PIVOT FOR 23 AUG 2011