Here is the summary for today's market.
FKLI April Contract
Opened 1590.50 from 1590.00 the previous day
High 1598
Low 1590.50
Close 1595.50
Wow.. what a slow day today was except for the brief morning move..
We expected today to be a choppy range trading day with light volume. We opened at the low of 90.5 and continued the march up to test our first level of support of 95 in the first hour. After that, it was pretty much a choppy day with small ranges.
After testing 95, we proceed to test for yesterday's high of 98. There was a big selling order at the 98 area. Kindly refer below.
.jpg)
Now those orders could have been from stop orders for short sellers and also long's profits at the level of 98 and a few levels after that too. But whatever it was, on a day which was trading with low volume, with numbers coming out tonight and many major markets closed for Good Friday, it was a bit unlikely that price could break too far from that area.
Yesterday we touched 98.50 before reversing most of the gains.
After touching a high of 98, we went into choppy move and traded at a 94.5-96.5 range from before lunch to all the way into closing. Talk about an uneventful day! >.<
But it is ok.. a good relaxing end to a week! US is closed tonight and their index futures will be closed at 9.15 our time.
-------
I will be having a 2 days seminar in KL this coming weekend so the weekend update may come a bit later yah. Probably on Sunday Night.
Wishing all of you traders out there a great and relaxing weekend!
Ciao!
Best Regards,
Tech Trader (Pirate)
No comments:
Post a Comment