Sunday, June 2, 2013

May 31 - FKLI, FCPO & GOLD (Closing May'13)

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...Dedicate this post to my Grandpa, may he R.I.P. in God's hands...

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Hi All.

There goes another month of trading, May'13, when I grew 1year older, my trading improves a lot after I implement some well-tested strategies to compliment my current setups, & also, my Grandpa's passing away near end of month. He had lived a long life of 102years, so, it was a blissful funeral, more like a gathering for the huge family he had, span over 4 generations.

I do a brief closing for the month of May'13, for FKLI, FCPO & GOLD, respectively.

Trading was muted since I last posted on the local futures, probably due to the school holiday season, plus a public holiday on Sat (June 1).
Both futures hit high mid-week & reversed to close lower for the week.

FKLI - Imminent Symmetrical Triangle breakout... (May 31)

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FCPO - Failed 2,420 resistance test, weakness signals pullback ahead (May 31)

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GOLD, however, saw big movements the past week.
First, breaking above the 1,400 mark, hit high of 1,420 & reversed sharply (especially on Friday), to again closed back below the 1,400 mark by end-of-week.
Currently, it looks like the ascending triangle breakout sending price above 1,400 is BUSTED....as price closed below the breakout level of 1,440 & closed 1,387 for the week.
More confirmation needed however, to confirmed the failed breakout of 1,400 level. A sustained stay below the level will be enough to show that bulls aren't that enthusiastic/confident as they seemed to be earlier in the week.
We'll see to that....


GOLD - Fall Back Below 1,400 Level (May31)

That put an end to May'13 trading journey....
We'll start over a new chapter tomorrow as we enter into June'13, nearing the halfway mark of Year 2013....
Hmmm...time doesn't fly....it hyper-jumps..... LOL...:p


Here's a test to check on your financial literacy....to know whether u have been utilizing ur weekends wisely all this while...haha...
http://on.mktw.net/12OAQ7


Enjoy your Sunday!! :)



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