3rd December, Monday (DJIA)

DJIA

Sustaining at Important Level – 13000!

The DJIA is hovering around the 1300 level for the past one week. As mentioned, so long as this level is able to be supported, more upside is expected with the tough resistance is seen at 13600 level only. We should see the DJIA to move towards the 13600 level, albeit in a slower pace.

For the week, the immediate support is seen at 13000 level, followed by 12500 level and the immediate resistance is seen at 13300 level, followed by 13500 level.

FKLI

Reliable Support – SMA 200!

As mentioned, the 1600 level (SMA 200 & psychological level) remains as a reliable support level. I am still in the view that it is worthwhile to take the risk by initiating long position with stop loss being placed around 1590 level and first profit taking level around 1620 level.

For the week, the immediate support is seen at 1600 level, followed by 1590 level and the immediate resistance is seen at 1625 level, followed by 1636 level.

FCPO

Range Trading – 2250 to 2450 Levels!

The FCPO is expected to resume its range trading - 2250 to 2450. Provided the SMA 30 is being taken over convincingly, only we will see the FCPO to trade into the next range of 2450 to 2650 level.

Above mentioned bands can be taken as a good reference level for any position initiation with tight stop loss being placed around the mentioned level (initiate short position when the FCPO approaching 2450 level; accumulate long position when the FCPO approaching 2250 level).

For the week, the immediate support is seen at 2350 level, followed by 2250 level and the immediate resistance is seen at 2450 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.