DJIA
Dropped Below 12000…
Since last Thursday’s coverage on Dow, the Dow yet to take over the 12000 level convincingly and 12000 level remains as the tough resistance level at the moment (SMA 200, Fibonacci 61.8% level & psychological level). Investors can take this level as a reference level for our market movement. Immediate support is seen at 11600 level.
FKLI
Will 1445 Level Able to be Supported?
The FKLI may drop below the important support level – 1481 (Fibonacci level of 61.8%) and heading towards the range of 1410 – 1445 levels. What should investors do? With the huge volatility in the market and the unclear market direction, investors should remain intraday or short term trading. Investors can take the 1450 level as a reference level, if 1450 level able to be sustained, long position can be initiated with stop loss level being placed around 1430 level; else, investors can initiate short position with stop loss level being placed around 1455 level.
Immediate support is seen at 1445 level and immediate resistance is seen at 1480 level.
FCPO
Hovering Around Fibonacci Level of 23.6%...
The FCPO may repeat what it has done during August to September – hovering around Fibonacci level of 23.6% before it “decided” to slide further towards south. We may see the FCPO to hover within the range of 3080 – 2950 levels moving forward.
What should investors do? Investors can either choose to initiate short position if the 3085 level is not being taken over convincingly with stop loss level being placed around 3100 level.
Immediate support is seen at 3017 level (SMA 100), followed by 3000 level and immediate resistance is seen at 3039 level (Fibonacci level of 23.6%).
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