Johnkiew

Johnkiew Updated 

Dow once again found resistant at Jan 2018 high 26684. Price retest this price level and quickly pull back and closed below. This doesn't reverse the bullish trend of Dow, and only suggesting price in correction after hitting historical new high. For short term price projection, please refer to the right chart, below 26617 will see price approaching 26532 and...

Johnkiew Updated 

According to Fibonacci spirals, oil have reached 73.52 in recent rally. This remind us in the previous fibonacci projection, at 70.05, oil price fall into correction for one month or more then continue the rally. Should oil retraced from here still uncertain given oil price trend remain strong and moving in higher high higher low structure. But, if you agree price...

Johnkiew Updated 

Since Jun, Hang Seng moving in 30 degree downward sloping channel. Price did not move out from this channel, and previous rally found resistant at the familiar upper channel again. The current price movement have formed lower low, thus the downside target projection are use for price target for reference. If price continue to trade below 27439 will see 27062 & ...

Johnkiew

FCPO filled last week open gap 2195. The filled gap named "exhaustion gap" in technical analysis, this indicate the buying have adapted the recent selling. While intraday price quickly retrace from 2195 to find support between 2181 to 2175 . Price have no significant direction in current price structure with no PalmOil data for today and tomorrow. FCPO may...

Johnkiew

FCPO rebound from 2137 (a decades price support level) was affected by rising crude oil prices. Please see right chart correlation indicator. When palm oil price reached 2137, the correlation between oil was as low as -76% due to stronger production. And the rebound start at 20 Sep when price at 2137, on yesterday closing, CPO vs oil correlation has come to almost...

Johnkiew

Hang Seng likely to join Dow Jones to trade lower with cautious on rate hike ahead. On the left chart (4 hours chart), Hang Seng Futures trading in a downward sloping channel with moderate slope of -22 degree. The recent rally not able to brought the index anyway further. Price is likely to continue to trade within the range for days to come. If the current...

Johnkiew

FKLI set for mixed start of the day, with Dow pull back from historical high as Fed decision ahead. Yesterday intraday high 1797 was 50% retracement of previous swing from 1807.5. This suggest the price in short term selling structure. As price below 1797, FKLI may retest yesterday low 1787. Major support at 1786 & 1781 (see left chart). Overall trend remain...

Johnkiew

FCPO rebound with stronger soybean oil and crude oil. However there is no indication of bearish reversal at current price level. The latest MPOA data suggested strong production in Sarawak region, the concern of high inventory remain in the air. FCPO had relatively weak rebound as price hovering below 2172. Higher than 2180 may see price testing previous gap...

Johnkiew Updated 

EURUSD is heading to 1.17357 base on fibonaccis spirals projection thanks to weakening dollar (DXY). And that will be new high for EURUSD pairs. To be conservative, trader please take profit when price approach or before previous high 1.17335 to avoid chaos.

Johnkiew Updated 

Palm oil had dropped almost 150 points in just two weeks time as concern on rising inventory. In fact, demand were surprisingly good during the first 15 days of September. The first 20 days export data is due on today. Trader please be cautious if the continue strong demand will trigger potential price rebound if market have overdone. Speculation of 3.3 m...

Johnkiew

Market quickly pull back from yesterday projection 1798.5 zone and fill the opening gap. The intraday price structure found support at 50% retracement level (left chart) and close at mid of intraday range. With Dow trading at 8 months high, FKLI expect to retest 1800 zone. Trader please aware that the current FKLI vs Dow correlation at only 20% positive related....

Johnkiew Updated 

One the left chart, a upward channel was plotted in black. The channel develop since Jul and price did not move out from the 37 degree upward sloping lines since then. Market is waiting 1-15 Sep Spooma data & export data to release on tomorrow on Monday to further speculation on inventory changes. The current price movement is expect to be sideway to down follow...

Johnkiew Updated 

Rising production data providing pressure to price. Reader please look at the left chart, retracement level 2202 (61.8%) were good support for FCPO since beginning of August. Price rebound two times from this price level. When the time production increasing rising pace during September, demand was surprisingly good during September as well. The story on the...

Johnkiew Updated 

Rebound with global sentiment recovery from trade war concern. Hang Seng selling reach 50% retracement level 26683 on yesterday (left chart) and rebound. However the current swing have achieved 4 multiples of golden ratio. A potential retracement may occur. This basis can be refer to Hang Seng was under-performer among all indices market during this period of...

Johnkiew

Market arguably the latest development likely to be less intense than actual feared. Market have adapt US-China tariff war with quick rebound on yesterday. FKLI found support at 50% retracement level 1781 (left chart) and coincidentally projection of down swing at 1782 (right chart). FKLI quickly rebound following regional sentiment like Dow & Hang Seng during...

Johnkiew Updated 

Refer to 6 Sep post, the projection of low 6106.5 was achieved on two days later. And again, price rebound from spirals ratio. The current swing is heading to 6714 as stated on the right charts.

Johnkiew

Doctor Copper, The leading indicator of economic cycle remain bearish see, declining copper prices may indicate sluggish demand and an imminent economic slowdown (Investopedia) In the chart, weekly chart seen copper price form double top in 50% retracement level. As the elliotician know, price failed to break 61.8% and reverse suggesting the next trend will...

Johnkiew Updated 

Latest development between China and US have temporary brought down YM1!, the current price had seen double top at 26200. Dow is expect to trade between 25800 to 26200 range. Current price structure remain correction while trend remain bullish. Correction support resistance as follow: Resistance: 26082 & 26053 Support: 25986 & 25831