12th November, Monday (DJIA)

Announcement: Sorry that there was no report since last Wednesday (7^th November 2012) and there was no announcement being made as well. I was attending the CIOC and only noticed that I could not access to blogspot from the country. Thank you.

DJIA

Downward Trading Started?

The DJIA dropped below its important support – 13000 level (SMA 200 & psychological level), if the index could not regain its posture above the 13000 level for this week, we should see further downward trading in the near future with the first reliable support level being seen at 12500 level only (Fibonacci level of 78.6%).

Currently, the short to mid term trading remains bearish as the index is trading below all its SMA. For the week, the immediate support is seen at 12500, followed by 12000 and the immediate resistance is seen at 13000, followed by 13200 level.

FKLI

Sustaining at the SMA 100?

The index is currently hovering around the SMA 100 level, will this level able to be supported? We will not speculate on the direction but we will follow the direction. If the SMA 100 level is not able to be supported, we may see the FKLI to drop further towards 1600 as the next reliable support level is only being seen at 1600 level (SMA 200 & psychological level). Investors should closely monitor the SMA 100 level for any new position initiation.

For the week, the immediate support is seen at 1630 level, followed by 1600 level and the immediate resistance is seen at 1636 level, followed by 1650 level.

FCPO

Bearish…

The FCPO will resume its downward trading, albeit in a slower pace with the immediate support is seen at 2230 level (the recent low). Not much to be expected as the FCPO might be hovered within 2230 to 2430 level for the week. Volume is expected to be thin for this short trading week.

For the week, the immediate support is seen at 2300 level, followed by 2250 level and the immediate resistance is seen at 2430 level, followed by 2500 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.