FBMKLCI
Take a Breather…
The FBMKLCI will continue to face with the tougher resistance level at 1450 – 1455 while taking a breather after recent sharp gained. Immediate support is seen at 1420 level.
However, is this a confirm uptrend? Is this a sustainable uptrend? Investors can really accumulate stocks for long term trading? What will be the strategy to use in this kind of market? I will cover in detail in my next Monday’s market outlook.
Dow Jones
Crucial Moment…
DJIA has been trading within the tight trading range of 10600 – 11600 levels for the past 3 months and currently is approaching the upper range again (11600 level, please refer to the chart below). If this level able to be taken over convincingly, the index will have a clearer uptrend moving forward, else, the index will resume its range trading.
Investors can take the above range as a reference level for the movement in DJIA. Immediate support is seen at 11330 level, followed by 11250 level.
FKLI
Resistance Level – 1450 Level!
The overall technical landscape never changes since yesterday’s report with the immediate tough resistance is seen at 1450 level. As per mentioned, investors can choose to initiate short-term position (less than 3 days) as the market direction is not that clear at the moment. Risk taker investors if choose to initiate short position when the FKLI approached 1445 - 1450 levels, please remember to keep your stop loss tight. Immediate support is seen at 1420 level.
FCPO
Remain Hovering Around the 2850 Level…
The FCPO will resume its lackluster trading session with the price to hover around the 2850 level (2830 – 2880 levels). Nothing much that investor can do except to wait patiently for the consolidation phase. Else, investors can choose to profit marginally from the range trading.
Immediate support is seen at 2800 level and immediate resistance is seen at 2880 level.
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