22nd October, Monday (DJIA)

DJIA

Immediate Important Support – 13300 Level!

Nothing has changed from last week as overall uptrend for the index remains intact with the immediate support is seen at 13300 level (SMA 50), failure for this level to be held will cause the index to retreat to 13000 level. The index is expected to challenge the historical high (14200) albeit in a slower pace.

The index is expected to hover within 13000 to 13600 for the remaining of the month.

For the week, the immediate support is seen at 13300 level, followed by 13000 level and the immediate resistance is seen at 13500 level, followed by 13600 level.

FKLI

Range Trading Resume… (1670 to 1640 Levels)

The overall uptrend remains intact, albeit in a slower pace. However, the index is expected to hover around the 1640 level to 1670 level for another week. The reliable support level has been revised higher to 1620 (from 1600 level) as both the uptrend line and SMA 100 level being located.

For the week, the immediate strong support is seen at 1640 level (SMA 20 & SMA 50), followed by 1630 level and the immediate resistance is seen at 1670 level (recent high), followed by 1680 level.

FCPO

Range Trading – 2550 to 2400 Level!

The FCPO is expected to hover around the 2400 level to 2550 level. Provided either side can be taken out, else, we will not see much movement from the FCPO.

However, I am still in the view that if the FCPO managed to trade above the SMA 20 (2470 level) and managed to be supported above the 2500 psychological level, investors should take the opportunity to initiate long position with stop loss level being set around 2450 level. Long position will be more preferred at the moment.

For the week, the immediate support is seen at 2400 level, followed by 2350 level and the immediate resistance is seen at 2550 level, followed by 2600 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.