Malaysia Futures Trading FKLI 60 minute Chart By Tokan Corner : As the chart and Andrew Pitchfork show. The FKLI has stopped above upperline of Andrew resistance line and has created mini Andrew Pitchfork trend. On Teusday 02 Aug 2011 the market still holding at upperline zone area.
SMA 20 and SMA 50 showing an attempt to make “Buy” Signal but it maybe false alarm due to the jitter on Dow Jones tonight. Wise ways is wait for confirmation 1st.
On the other hand Slow Stoch also showing and oversold pattern and will going for a U-Turn, but still it may be sluggish on tomorrow trade due on tonight report on DJIA.
The bad news is the MACD has performed “ Death Cross” on 49 zone area.
As u can see on Mini Andrew the midline of resistance is at 53.5 and our Pivot also at 53.5 ( 2nd Best Spot For Short)
Ok lets go back to the chart, any changes will show us some hints on tomorrow Wednesday. If the markets can broke down 1543 it might be a bearish horde again to charge 1531+ -1536 area. If not get ready for a rollercoaster. :p ( 1530 – 1540 Buy On Dip )
If open below upper line go fo long and pls prepare your TS. Make it handy
READ MORE PREVIOUS ARTICLE REGARDING TRADING OPINIONS ON 3 AUG 2011
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