The largest market cap in the Bursa market have formed a classic chart pattern breakdown with formation target at 7.125.
Price level 9.10 have used as neckline instead of June 2018 low. The reason underlying by two symmetrical shoulder (left and right) ended and started development from this price level.
Oil have breakout from inverted head and shoulder neckline 56 with a day candle closed higher that confirmed the pattern has formed. The historical statistics said target of inverted H&S will be achieved 74% by Thomas Bulkwoski.
Following price level for trader to take note:
If price stay above 56, target 59.63 (potential correction at this price level)
Gold price is approaching multiple years resistance 1356 to 1368 levels. Gold price is trading below this price since 2013.
Trader please be cautious in the coming days as fundamental sentiment remain bullish on "hedge funds ramp up bullish bets" according to Bloomberg and paused of rate hike.
If you look at daily chart, FKLI did not move any lower than 1606 since 2015. Market trade in 150 range for 1 year before a rally started in Jan 2017 and brought market to 1900. The recent low 1655 become a new price level to monitor and further expand the zone by 50 points from 1606 to 1656 (as confluence zone highlighted in the chart).
The market have tested...
The up swing projection as followed:
If price trade above 11004, target 11142 (first target)
If price trade above 11142, target 11367(second target)
Trader please be aware when price trade near to 6 months resistance zone. China A50 has been trading in narrowing trend.
On the left chart (daily time frame), market profile was fixed on Dow Jones futures range between February low to October high. Trader please look at the point of control, identify as red line in the chart which indicate the most volume traded price level within the range. Coincidentally, market rebound 3 times from POC.
The recent fall from 8 November high have...
As market near to end of the year, "window dressing" seasonal behavior have high chance to occur. Major markets have traded approach the previous low and indicate temporary support.
A50 has again trading near to 5 months support as show in the left chart. And higher high higher low set up on the lower time frame. Trader may look for long opportunity with the...
China A 50 have not move out from the 800 points range since July. Recent rally again found toppish on resistance zone priced between 11500 to 12000.
Yesterday selling again has formed lower low structure. Trader please stay at the sell side if price moving lower high lower low.
The down swing projection as followed:
If price trade above 11420, target 11195....
The current forward curve in FCPO are trading at the steepest contango throughout the year. The sluggish front months is suggesting market having high inventory.
The price have breakdown significant price level 2137, and this break down also confirm the head and shoulder formation which use 4 months to formed. The pattern projection is targeting 1970.
Again the 3 markets have rebound from recent new low. According to elliott wave and fibonacci structure, the market correction size fall between 38.2% to 61.8%. Shall the current market market to prove as trend reversal? Trader please monitor the following price level.
Retracement level at 25203, 25537 and 25871. Higher than 25871 indicate price...
China A 50 have rebounded 5 times in the past 5 months when the price reached 10800. The market have not move out from the 800 points range since July.
Yesterday selling again brough the price to this price zone 10800 with a low at 10710 and quickly rebound. Trader please stay at the buy side if price moving higher high higher low.
The up swing projection as...
The recent rebound formed head and shoulder pattern and breakdown on today. The pattern projection have two targets, first smaller swing from head to low of right shoulder is targeting 24689, the aggressive projection measure from left shoulder is targeting 24449.
Hang Seng rebound strongly with fresh measure announced to ease funding for private companies.
The strong rebound brought price to 26222 level. On the left chart, price reached one third of previous downswing (important fibonacci retracement level), also hovering around previous downward channel line. On the right 60 mins chart, yesterday rebound reached 5...
The surprised rose in oil inventory have triple analysts forecast and lead to price correction around 3% on yesterday.
On the left chart oil continue to move in a upward channel, each correction from upper channel were 12% and 14% respectively.
The current price level in 50% of the channel, if price continue to move in the channel structure, oil price may...
With geopolitical tensions between IS and Saudi Arabia and concerns about an escalation in global trade was boosted gold as haven assets.
Gold is trading at 3 months high, the current price structure is looking to go even higher with significant breakout from 2 months sideway. Trader please look for buy position, any retracement on gold is opportunity to for...
The sharp declined in indexes market have not make significant come back yet since 11 Oct.
The 3 charts plotted in 60 minitues time frame. From the left
- Dow declined 7.6% from the peak, and rebound to 50% ratracement ( 25510) and trade below.
- FKLI declined 6.7% from the peak, and rebound to slightly higher than 50% ratracement (1738) and retraced.
11 Oct could be a day to remember(refer to post "Dow Jones Fibonacci Time"), Dow fall almost 1000 points in a single day and still dropping. In 4 trading days, Dow have dropped 6.52% at the time of this post from historical high.
The current price structure in daily chart are not favorable to stocks investors, first 3 Oct all time high was not sustainable and...