Morning Updates - Weekly and Daily Range

Good morning Traders!

Alright lets get rolling.

As we have discuss in our weekly updates, US futures sank after the jobs numbers on Friday. I suspect this will be a pull back swing from the recent march up since the beginning of this year. In a way, this could be considered a healthy pull back.. sort of a regrouping before the next leg up again. But it remains to be seen how committed the sellers are now.

US Index Futures - Friday

S&P500 Opened at 1390.50 and closed at 1375 down 15.50 points
Dow Opened at 12978 and closed at 12858 down 120 points
Nasdaw Opened 2755 and closed at 2725 down 30 points

Oh yeah, remember we have Bernanke speaking so volume might be lighter than usual.. - updated 9am.
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Cash Index - KLCI

I think we will be trading below the trend line since the beginning of this year. I am excited by this pullback swing and want to see how much the sellers in our local market are willing to push this down and how committed are the buyers in holding prices up. Keep in mind that we are still trading above the 20ema and the general trend is still up. The most I would expect for this week is just a pull back from the recent march up and nothing more. Heck, we could even do a 180 turn after breaking down the trend line and trade back into the wedge pattern. So we will let price action be our guide.

Here are the weekly levels for the Cash Index:

Upper Weekly Range: 1612
Lower Weekly Range: 1587, 1582, 1577 and an outside chance of 1566

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FKLI Daily Levels

Alright! Here are our daily levels for our FKLI April Contracts for today.

Upper Resistance: 1593,1598
Lower Support: 1585, 1580, 1577, 1574

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FCPO

Alright.. If you have not read our weekly update on the 4 CME grains namely Soybean Oil, Soybean, Wheat and Corn Futures, you can click here to read about it as it all of these grains contract's price are co-related in some ways.

We had a strong performance in our FCPO last week. It remains to be seen how far the buyers can sustain this buying pressure.

Here are the weekly range for the FCPO contract:

Upper Range: 3700
Lower Range: 3500

I won't be doing the daily updates for the FCPO for now as I won't have enough time. As of now, the FKLI will open in 10 minutes.. so.. Apologies..

But if you have any request for the daily levels, perhaps you can email me and we can discuss about them.

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Alright trade safe all!

I'll update again if there are anything urgent!


Best Wishes,
Tech Trader