Malaysia Futures Trading FKLI 60 minute Chart By Tokan Corner :
As the chart and Andrew Pitchfork show. The FKLI has stopped above 1st upperline of Andrew Pitchfork resistance line. The EMA and SMA still holding but due to the weaknesses of Dow Jones it may drag the FKLI Futures down. And my opinion Dow Jones still have 200+ to 300 + point to kick off from the buckets and as long 10700 can withstand the selling force then we might seen a Long Rally on Wave 3 based on Elliot Wave but below 10600 it will be a false alarm on the wave and may go down more.
As on the chart is has put a spot ( circle ) to my target area that is around 1446 and 1438 to Buy On Dips. And can start to short at current price or below with a TS at the 1st Upperline.
See my post on 24 Aug 2011 >> http://tokancorner.com/2011/08/bursa-malaysia-fkli-futures-trading/bursa-malasia-fkli-futures-trading-on-60-minute-chart-on-andrew-pitchfork-review-for-24-augs-2011/
Bursa Malaysia Trading KLSE FBM KLCI 60 minute Chart By Tokan Corner :
As a supplement let we see on Cash Market chart, as we can see the FBM KLCI touched the upperline of Andrew Pitchfork and has formed a Shooting Star Doji.
MACD is nearing to entering DC ( Death Cross ) and the Slow Stoch is going South.
Just watch out for 1460 point area !! If that cant withstand then the selling force will be bigger and we will enter SELLER mode again.
Based on Andrew Pitchfork my next target support is at 1442 / 1445 area…
If that also breakout then end of story … (1350 will be tested )
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