Announcement:-
1) Both the Contract Specification for FKLI and FCPO (both languages – English & Mandarin) have been published on my blogspot under the “Futures” tab – item 1.
2) For those who have attended the Learn the Correct Trading Technique Now’s class, an email has been sent to you for certain announcement, please drop me an email if you do not receive it.
3) Starting next Monday (19th December 2011), I will be on leave till 2012 and no market outlook will be published on daily basis. However, if there is severe movement in the market, I will cover the write up during the day itself. The daily market outlook will resume on 3rd of January 2012 (Tuesday).
MAS
Last Done: RM1.31
Those investors who are having this stock can remain holding on to the stock with the stop loss level being set at recent low of RM1.23. Overall technical landscape remains weak as the trend heading towards south (shown by the moving average and the downtrend line).
Immediate support is seen at RM1.23, followed by RM1.15 and immediate resistance is seen at RM1.37 level, followed by RM1.40.
FKLI
Overall – Range Trading of 1490 to 1450 Levels…
Since mid of October till today, most of the time, the FKLI is trading within the above mentioned range and this should be the range for the remaining of the year. This range should serve as a good reference level for investors to initiate any fresh position (long when the FKLI is approaching 1450 level and short when the FKLI is approaching 1490 level with stop loss level being placed around the above support and resistance level).
Immediate support for the day is seen at 1459 level, followed by 1450 level and immediate resistance is seen at 1470 level, followed by 1475 level.
FCPO
Slow Movement…
The FCPO is expected to resume its tight range trading bias towards long position with stop loss being set around 2980 level. A clear direction yet to be shown, as such, investors (especially risk averse) should remain intraday trading.
Immediate support is seen at 2997 level, followed by 2980 level and immediate resistance is seen at 3020 level, followed by 3040 level.
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