5th March 2012, Monday (DJIA)

Dow Jones

Let us look at Dow today as Dow is approaching its crucial level – 13000 level! So long as this level can be taken over convincingly, the Dow can head towards the historical high without much barrier. Overall uptrend remains intact but with the narrowing in the Bollinger upper and lower band, investors will need to take extra cautious as this might cause the Dow to change its trading direction.

Immediate support is seen at 12915 level (SMA 20), followed by 12500 level and immediate resistance is seen at 13000 level, followed by 13120 level.

FKLI

Heading towards 1600 Level!

For this week, nothing has been changed from last week. We are still eyeing the FKLI to move towards the historical high, albeit in a slower pace. Any weakness should give investors the opportunity to accumulate long position with stop loss level being set around 1550 level.

For the week, the immediate support is seen at 1570 level, followed by 1550 level and immediate resistance is seen at 1600 level, followed by 1630 level.

FCPO

Reliable and Strong Support at Fibonacci Level of 38.2% & SMA 20!

For this week, nothing much has been changed since the FCPO remains trading within the range that we are looking at (3250 – 3300 levels). Investors who have initiated long position previously should remain your stop loss level at 3250 level and the remaining position should run on this uptrend.

From technical point of view, further weakness is expected for the FCPO and the reliable support level only being seen at Fibonacci level of 38.2% & SMA 20 level (3218 – 3200).

Immediate support is seen at 3250 level, followed by 3220 level and immediate resistance is seen at 3300 level, followed by 3350 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.