Higher Chances to Break Through 13000 Level!
The DJIA is re-testing the 13000 level and this may give the necessary power for the DJIA to break through the 13000 level after recent rebound from the SMA 20. Tonight will be the crucial moment for the Dow and investors shall monitor closely as this will have the necessary impact towards our market as well.
Immediate support is seen at 12900 level, followed by 12700 level and immediate resistance is seen at 13000 level, followed by 13100 level.
FBMKLCI & FKLI
Both indices facing with the same situation – trading slightly below the SMA 20. This will be the level that investors should closely monitor. Sustaining above the level should indicate the index will head towards 1600 without much problem and trading below the SMA 20 will indicate the index might continue its retracement until the more reliable and strong support level at 1532.
Today should serve as the important day for monitoring and we shall revisit both the indices tomorrow.
Immediate support is seen at 1567 level (SMA 20), followed by 1550 level and immediate resistance is seen at 1600 level, followed by 1630 level.
Minor Retracement…
The FCPO is expected to resume its downward trading, however, in a slower and marginal way. First level of support should be seen at 3300 level. Stop loss should remain around 3295 level and if the FCPO dropped below this level, investors can just take your profit and close your position.
Immediate support is seen at 3300 level, followed by 3250 level and immediate resistance is seen at 3362 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.
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