1st October, Monday (DJIA)

DJIA

Immediate Support – 13300 Level!

Overall uptrend for the index remains intact with the immediate support is seen at 13300 level (SMA 30). The index is expected to challenge the historical high (14200) albeit in a slower pace.

For the week, the immediate support is seen at 13300 level, followed by 13000 level and the immediate resistance is seen at 13500 level, followed by 13600 level.

FKLI

Immediate Tough Resistance – 1655 Level!

The FKLI is expected to resume its range trading of 1620 to 1655 levels. Nothing much that investor can do except to capture on the range trading (initiate long position when the FKLI approaches 1620 level and initiate short position when the FKLI approaches 1655 level with stop loss level being set around 6 points away). We will only revisit our strategy provided the above mentioned level being taken out convincingly.

For the week, the immediate support is seen at 1620 level, followed by 1600 level and the immediate resistance is seen at 1640 level, followed by 1650 level.

FCPO

Final Quarter – Rebound?

Historically, the FCPO will have its uptrend during the last quarter of a year, will this happen for this year as well? We will not speculate on the direction, however, fundamentally, the FCPO is expected to rebound during the last quarter, especially the FCPO is currently having huge discount from soyoil.

From technical perspective, overall trend remains downward trading, thus, any long position (for risk taker investors) should couple with tight stop loss point.

The FCPO will need to regain its posture above the 2670 level as soon as possible (Fibonacci level of 23.6%), else, we might see the free fall for the FCPO and the more reliable support levels are only being seen at 2470 level, followed by 2270 level.

For the week, the immediate support is seen at 2500 level, followed by 2470 level and the immediate resistance is seen at 2600, followed by 2700 level.

Disclaimer:

The information herein was obtained or derived from the source that I believed 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 my judgment as of this date, not an invitation to buy and are subject to change without further notice.