All Your Uber and Grab Promo Code HERE >>


Tuesday, January 13, 2009

Random Weekly Technicals >>> KLCI + DJIA + FCPO + FKLI + E-CrudeOIl + USD/MYR

By Zhuge Liang

KLCI Weekly Technicals FA + TA

877 to 919

936 to 970

The KLCI rose last week, led by a rise on further buying on plantation counters. IOICORP moved in a volatile manner, as a foreign brokerage downgraded its call on the stock. CPO Futures also traded in a wild range and plantation counters gyrated in a large range too.

The firm support area for the KLCI is located at the 877 to 919-zone. The resistance areas of 936 and 970 may see some profit-taking activities. The market had been oversold since Oct ’08 and we are poised for a pre-CNY rebound to between retracement areas of 940 to 994 for the KLCI. In the weekly Elliott Wave picture, the KLCI is tracing a broad Wave 4 consolidation phase. As the KLCI broke above 926, then there is potential for a Wave 4 extended rebound towards 940, 960 and 994 points in the next 3 weeks.

We believe that the KLCI and selective counters on the local bourse could be relatively strong – despite the volatile gyrations of the American indices to the downside, based on weaker economic figures there (like higher unemployment).

The US awaits the swearing-in ceremony of Presidentelect Barack Obama on 20 Jan ’09 and also the first US FOMC meeting on 28 Jan ’09 for further direction – amid a gloomy economic picture there.







If you like the post, please subscribe to Bursa Chat. We will send you the latest post by Email
===> Click
Subscribe to Bursa Chat by Email


No comments:

Profit / Loss Calculator

Enter the details and click on the compute button to find out if you are making a profit or a loss.
 Contract Details
  No of Shares Price (RM) Brokerage Rate Desired Profit

Contract Type
Share Bought From:
Clearing Fee For:
 Details Buy  Sell  
 Proceeds 0.00  0.00  
 Brokerage Fee 0.00  0.00  
 Clearing Fee 0.00  0.00  
 Stamp Duty 0.00  0.00  
 Net Amount 0.00  0.00  
 Breakeven Price 0.00  
 Buy Net Amount 0.00  
 Sell Net Amount 0.00  
 Profit/Loss 0.00  

Price Range Index
Stepping Method:
 Auto Computation (Profit/Loss)
Sell Price  Net Amount  Profit/Loss  
0.00  0.00  0.00  
0.00  0.00  0.00  
0.00  0.00  0.00  
0.00  0.00  0.00  
0.00  0.00  0.00  
0.00  0.00  0.00  
0.00  0.00  0.00  
0.00  0.00  0.00  
0.00  0.00  0.00  
0.00  0.00  0.00