Sunday, 23 December 2012

23/12/2012 ; FCPO 60 min chart ; 2409 ; BULLISH. This week ended up 100 pts after opening gap-up also 100 pts ( coincidence?) Monday, then consolidated mid-week but recorded a higher high and a higher low. Ended the week with a positive note forming a 'rising wedge' chart-pattern after making a 'reversal divergence' earlier. BULLISH as long price is within the wedge. BEARISH if breaks downwards.

Monday, 3 September 2012

3/9/2012; FCPO -3073; BULLISH; Fcpo opened  gap-up today & broke above the 'bearish pennant' and continue to close near the highs of the day. From a pennant it now formed a 'bearish flag'. Price is now above moving averages.It will be bullish as long as price within flag. Bearish if break down. Meanwhile Soybean also opened higher at the European market.

Saturday, 1 September 2012

1/9/2012 ;  FCPO 3019 ; SIDEWAY TO LOWER. Fcpo ended the week lower at 3019 after recovering 300 points to the high of 3122, from the low of 2820 recorded on the 14/8/2012. Prices are now at a 'neutral' position, in between the moving averages. It now formed a 'bearish pennant' which usually breaks down. If price breaks down its bearish. If breaks up, its bullish. In the meantime soybean oil is also consolidating. 

Wednesday, 15 August 2012

15/8/2012 ; FCPO 2862 ; SIDEWAYS to downside biased. Fcpo sideways the last 3 trading days with not much movement forming a 'pennant' within a bigger 'BULLISH FLAG'. Not much excitement is expected in the coming days ahead of an extended weekend due to public holidays where FCPO is expected to find a neutral point to park. Bullish if breakout upwards from the pennant. Bearish if breakdown. 

Wednesday, 8 August 2012

8/8/2012 ; FCPO 2864 ; Turned bearish. Breakdown from the falling wedge and back into the bigger bullish flag formation.The breakup from the falling wedge didn't materialize.  Next support will be the critical 2840 level. If that is breached more bearish momentum is expected. Meanwhile the reversal divergence still persist which suggests that some upside correction is expected.
8/8/2012 ; FCPO 2907 ; SIDEWAY  still. From a pennant now formed a falling wedge which has to breakout. If breakout upwards it's bullish. If breakout downwards it's bearish. Meanwhile in the 60min chart formed a reversal divergence.

Saturday, 4 August 2012

4/8/2012 ; 2918 ; Sideways still. Not much movement for the last 2 weeks. From a falling wedge, turned to a rising wedge. Now forming a pennant which is a confirmed sideway pattern until it breaks out. Bullish if break upwards and bearish if it breaks downwards.

Sunday, 29 July 2012

29/7/2010 : FCPO; 2927. Formed a 'falling wedge'. Bearish  as long price in the falling wedge. Bullish if break up out of wedge. Very bearish if break down. Meantime last friday's movement has  formed a 'reversal divergence'. 

Thursday, 10 May 2012

10/5/2012 ; 3349 ; SIDEWAY ; closed up 6 points with no clear direction whatsoever. Formed a reshaped pennant from yesterday's pattern. Sideways if price is within pennant, bullish if break up, bearish if break down.

Wednesday, 9 May 2012

9/5/2012 ; 3335 ; BEARISH STILL - FCPO  unable to continue bullish momentum even though break up from the bullish flag. Instead it formed a pennant and it broke down before closing today due to weakness in  fundamentals and commodities.

Tuesday, 1 May 2012

1/5/2012 ; 3471 ; SIDEWAY STILL

FCPO is in sideway mode confirming the formation of a 'pennant' from a 'bearsh flag' earlier. It will stay sideways until it breaks out. If it breaks out above it's bullish. If it breaks out below it's bearish.

Monday, 30 April 2012

Wednesday, 25 April 2012

25/4/2012; 60 min chart; 3511 -BULLISH

Bullish? yes - but not out of the woods yet until market closes above 3523. FCPO broke out above the 'falling wedge' near closing today and closed at the highs of the day. Still lower than monday's high of 3523 which until then, market may not confirm yet that its bullish ( correction over ). It's now within the 'bearish flag' and as long it's within it, it is bullish. If breakdown, it is bearish. If break up, it is strong.

Tuesday, 24 April 2012

24/4/2012 ; 60min chart ; 3463 ; SIDEWAY

Nothing much I can do for now. Since I was stopped out, I'm staying aside for the moment until clearer directions are given. I am not even sure which formation the market is going to follow, the 'falling wedge or the 'bearish flag'.

Monday, 23 April 2012

23/2/2012 ; 15 min chart ; 3475 . SIDEWAY TO LOWER

I was stopped out again this time at 3499 when 15 min chart gave a sell signal. FCPO went sideway to lower after opening higher but lost the upward momentum and closed near the lows of the day. I guess correction is not over yet until it closed above yesterday's closing.

Saturday, 21 April 2012

21/4/2012 ; 15 min chart ; 3500 ; BULLISH

Correction over? Seems market correction is over due to 50 points push up during last 30 min before Friday's closing. Market is bullish after a week of pull-back. I even had the opportunity to add another long position when it broke-up from the wedge.

Thursday, 19 April 2012

19/4/2012; 60 min chart ; 3477 - A typical whipsaw day for a trader.

A typical day of reversals as a result of trying to catch the bottom of a market! From a long, reversed to short, then reversed back to long. I guess this is what real trading feels like.

19/4/2012 ; 60 min chart ; 3479 ; Sideway to higher.

Consolidation phase ; market made some correction this week after surging quite strongly the week before. It has formed a ' bearish flag' which if the price is within the flag, it's bullish. If it breaks down, it's bearish. If it breaks up, it's strong.

Monday, 16 April 2012

16/4/2012 ; 3510 ; BEARISH.

I was stopped out last Friday when it broke down the major support line after quite some time in the market [ since 23/3/2012 ]. It also crossed over below all moving averages. For now it's not sure whether it's going to do a reversal or just a major correction. Maybe today it will confirm the next market direction.

Wednesday, 11 April 2012

11/4/2012 ; 60 min chart ; 3621; Bullish - still holding longs.

FCPO made some correction the last 2 trading days but recovered all the losses and in-fact made a new high in the process. It 'broke down' the 'rising wedge' formation monday 2nd session but recovered and recorded a new higher high tuesday 2nd session. It now formed a 'bearish flag' which if the price is still within the flag, it's bullish. If it breaks down, it's bearish.

Monday, 9 April 2012

9/4/2012 ; Soyabean oil daily chart ; 56.94

Soybean oil made a new high this morning, in fact it broke above the 'rising wedge' formation indicating signs of a renewed strength in price movement.

Saturday, 7 April 2012

7/4/2012 ; Soybean daily bar chart.

A picture shows a thousand words. Food for thought. If  the chart of soybeans looks like that. Can FCPO make a pattern  just like that?

Wednesday, 4 April 2012

4/4/2012 ; 60 min chart ; 3557

Bullish still ; even though open lower, but still recorded a new higher high and higher low and closed above all moving averages. In-fact a new stronger channel line was established.

Monday, 2 April 2012

2/4/2012 ; 60 min chart ; 3532

Bullish still. Open gap-up and recorded a new higher high due to soy oil's strength closing last friday. Brake above both the bullish flag and the falling wedge and closed near the highs above the moving averages.

2/4/2012 ; 60 min char ; 3433

Market correction almost over. Formed a 'bullish flag' within a 'falling wedge'. Bearish if still within flag or wedge. Bullish if breakout above. I have entered another long position last friday anticipating market may move higher this week.

Friday, 23 March 2012

60 min chart ; 3426

Bullish - Renewed strength with very high volume indicates correction is over and recorded a new higher high. Market has 'rebounded' after a 'pullback' gives opportunity to re-enter long position. The price has gone above all the Moving Averages. Support ; 3418 ,3383, 3359. Resistance ; 3464,3489 , 3532.

Thursday, 23 February 2012

23/2/2012 ; 60 min chart ; 3272.

Broke down but made u-turn! May turn back to bullish if tonight's soya oil price gains.  Support ;3245, 3202, 3170. Resist; 3294, 3305, 3385. Range target; 3245 - 3355.

15 min chart;

Wednesday, 22 February 2012

22/2/2012 ; 60 min chart ; 3250.

Bearish - start of a correction. Recorded a new high of 3294 before 'water-falling', all in the last couple of hours. Broke down from the 'bearish flag' and turned bearish and closed at the lows of the day with a fairly higher volume. Support ; 3230, 3202, 3170. Resist; 3294, 3305. 3385.

22/1/2012 ; 60 min chart ; 3268. ( LATE REPORT)

Sideways  - still within 'bearish flag' even though not making new highs. Looks 'toppish' at the  moment but today's close may confirm. Support; 3255,3230, 3202. Resist; 3276, 3305. 3385. Range target ; 3240 - 3280. 

Monday, 20 February 2012

18/1/2012- 60 min chart ; 3245

Bullish - still within the 'bearish flag' charting a higher high of 3276 and a higher low albeit a lower volume. Open gap up but closed near the lows of the day. Market seems 'out of breath' at the closing after opening very strong. Support ; 3220, 3202, 3171. Resist; 3276, 3305, 3385. Range target; 3220 - 3310.

Friday, 17 February 2012

17/2/12 ; 60 min chart ; 3242

Still bullish but was stopped out. Price is still within 'bearish flag' . Charted a higher high and higher low. Support ; 3220, 3205, 3171. Resist ;3255, 3270, 3285. Range target ; 3220 - 3275.

17/2/12 ; 3189

60 min chart; Pullback but still within 'bearish flag'. As long as price is within flag, it's bullish. Support; 3171, 3142, 3118. Resist; 3213, 3244, 3270. Range target; 3180 - 3240

Thursday, 16 February 2012

30 min chart.

Buy at 3186 on rebound after pullback and above moving averages.

16/2/2012 ; 60 min chart ; 3197

Bullish still. Even though closed lower, but recorded higher high and higher low. Price is still within the 'bearish flag' and above both moving averages.  Support ; 3171, 3142, 3118. Resist ; 3244,3270,3300. Range target ; 3194 - 3260. Upside target ; 3372.

Wednesday, 15 February 2012

15/2/2012; 60 min chart; 3205

Bullish- recorded a higher high and higher low and closed at high of the day with moderate volume. FCPO now forming a 'bearish flag' and as long as the price is within the flag it's bullish. If it breakdown its bearish. Support; 3171,3142, 3118. Resist; 3244, 3270,3300. Range target;3170-3245. Upside target; 3372.

Thursday, 2 February 2012

2/2/2012; FCPO - 3056

Open higher but closed lower recorded a lower low of 3036 but a higher high with slightly higher volume. Market is still within the 'falling wedge'. Bearish if price within wedge or break down, bullish if break up. Support; 3020, 2980, 2914. Resist; 3110, 3146, 3190. Range target; 3025 - 3090.

Tuesday, 31 January 2012

31/1/12; FCPO- 3178.

Opened gap down and recorded a new low of 3044 and lower high even though closed off the highs. Chart pattern now forming a new enlarged  'falling wedge'. Market will be sideways to lower if within wedge, bearish if break down, bullish if break up. Support; 3044,3020, 2980. Resist; 3100, 3146, 3190. Range target; 3030-3082.

Monday, 30 January 2012

30/1/12; 60 min chart.; FCPO -3082

Broke down from the 'bearish flag' at the opening and bearish at both sessions today. Recording a new lower low of 3179 and closed near the lows with comparatively larger volume. From a 'bearish flag' now forming a 'falling wedge'. Support; 3052,3020,2980 . Resist; 3128, 3190,3205.

Saturday, 28 January 2012

28/1/12 ; 60 min chart

3135 ; Market moved in a tight range with lesser volume still after succumbed to selling pressure the day before due to negative export figures. From a rising wedge now forming a bearish flag. Market direction will be side way for  now until prices breakout from the flag. Support; 3097. 3052, 3020. Resist; 3190, 3205, 3244.

Friday, 27 January 2012

27/1/12 - 60 min chart ; 3131

Open higher but closed near the lows of the day. from a rising wedge, broke down and now formed a bearish flag. bullish if price within flag, bearish if break down. support; 3097, 3078. 3052. resistant; 3176, 3190, 3205.

Friday, 20 January 2012

20/1/12 - FCPO ; 3160

 BORING! Not much movement coupled with lack of volume. Market is heading nowhere with all the wrong signals ahead of a long week-end. Support; 3143, 3097, 3052. Resistant; 3086, 3205, 3144.

Thursday, 19 January 2012

18/1/2012- 60 min chart

3180 ; closed at the high of the day after trading lower earlier. recorded a higher low and higher high. market looks bullish at the moment still not out of the woods yet. support ; 3143, 3097, 3052. resistant ; 3186; 3205; 3244.