The Week Ahead - FKLI - FCPO

Dear Traders,

Here are the weekly chart for our local FKLI and FCPO's chart.

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FKLI

We had a great week in our local index. The lower trend line held nicely and we close the week with a healthy green trend bar. We are just a few a few cents away in the cash index to test our 1597 resistance of the recent high. So I think if the uptrend continues, we will go on to test the 1600 and 1606 range soon. I will post the weekly range tomorrow morning before the market opens. :)

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FCPO

Here is the weekly chart for this week's price action.

We started the week strong but FCPO's price was also being dragged down along with the other grains product on the CME. We close the week with a gravestone doji looking pattern.

However, we have yet to test the bottom of the wedge so for me, the up trend is still pretty much in tact. With the Soybean Oil, Soybean, Wheat and Corn futures closing strongly last Friday night, I expect our FCPO to gap up in the morning.

I will post more on the levels tomorrow morning when I get into the office by editing this post.. no need too much new post lah rite? :)

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Read more on the weekly forecast for the overseas market for 2-6 April 2012 by clicking here. 

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Ok wishing all of you traders out there a great evening and get rested for the coming week ahead!

Talk to all of you soon!


Best Wishes,
Tech Trader