Morning Updates - 4th June 2012

Morning Traders,

Looks like its going to be a busy morning so I will keep it brief.

If you haven't read our weekly updates, you can click here.

The US market closed down heavy last Friday. Dow futures is now trading at -90 points and the S&P is trading at -8.5 points.

I am looking to add to my positions if possible and swing this position as long as the regional market confirms to my view.

With the strong rally last in the last 1 and a half week, many people are wondering if our local market would follow suit and fall along with the regional market.

I am of the view that we will be falling along so I will trade accordingly.

FKLI

Cash Index

Here are the levels for today:

FKLI

Upper Resistance: 1577, 1580, 1583
Lower Support: 1565, 1560, 1558, 1555, 1550, 1545, 1542, 1537

Cash Index

Upper Resistance: 1576, 1582, 1587
Lower Support: 1566, 1563, 1558, 1553, 1549, 1544

Trade safe and bring home the bacon! Ciao!

Best Wishes,
Tech Trader