FKLI & FCPO Weekly Outlook:

FKLI

This is the FKLI daily chart. Continuing where we left off in last week’s video analysis, I mentioned 1) FKLI formed a bear trap, 2) EMA8-13 must form a golden cross and 3) prices need to stay above 1,765 in order for FKLI to start an uptrend. FKLI last week did have these 3 clues and eventually went up to a weekly high of 1,774. 

 

Currently market is trading around 1776-1777 zone. Based on the available information: EMA8-13 golden cross and prices above 1,770, I believe FKLI will start to trend higher. First uptrend target will be 1,782 while second uptrend target is 1,800. Risk management will be the 1,770.

 

On the other hand, if prices breaks below 1,770 and ema8-13 deadly cross, the index could drop to first target of 1,750, second target at 1,730. Risk management will be 1,770 zone.

 

FCPO

 

FKLI, FCPO & Forex events to watch out this week (Msia Time)

Every 10th biz day of month, Malaysia Palm Oil Board’s Palm Oil stocks data. Expect some price volatility for FCPO. Take good care of your trades.

Every 10th, 15th, 20th, 25th and last biz day of month, ITS & SGS Palm Oil export data. Expect some price volatility for FCPO. Take good care of your trades.

9 Aug, 10.30pm, Weekly Crude Oil Inventories. Expect some price volatility for WTI Crude Oil. Take good care of your trades.

10 Aug, 7pm, RBNZ (New Zealand) Interest Rate Decision. Market is forecasting a 1.75% rate. Expect price volatility for NZD currency pairs. Take good care of your trades.

DISCLAIMER

The information contained in this article is for reference only. No individual financial goals & risk appetite have been taken into account. Futures trading involve high risks.

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