Tuesday, May 21, 2013

May 21 - FKLI, FCPO & GOLD

Hi All.


On FKLI
Rebound following the Southern Doji signal materialized, & quickly hit my target of 1,787 today.
No sign of weakness yet as of today's close. Hence, will watch for potential test of immediate resistance of 1,790-96.5 tomorrow.

FKLI - Rebound after Southern Doji, Hit 1,787 resistance (May 21)

>>>

On FCPO
Continued muted trading & again closed at 2,335 mark...for the third straight session.
Chart shows price resisted by a 3-mth downtrend channel. Expect market to decide on its direction soon after three consecutive small-bodied candles largely between 2,325-2,345 range.

FCPO -Stuck Between 2,325-2,345 range, Pending clear direction (May 21)

>>>

On GOLD
The week started on a strong note as price rebound from last week's sell off.
Found support near 1,340 level early Monday (May 20), rebounded strongly to 1,400 but had reversed from there.
Currently around 1,360-65 range, as of writing. Immediate support comes in at 1,360, then the strong 1,340, followed by Apr 16 low of 1,320.

GOLD - Temporary Supported by 1,340 Level (May 21)



Have a good night!
Happy Hunting!! :)

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