Monday, July 14, 2014

Trading Tips for the Day - 14 July 2014

FKLI will likely open at very near to yesterday's close, for the first trade today, one can attempt to Long 1-3 points below the opening price.  Try get 5-7 points profit and put a stop 5 points way from the entry point.  Close your position by the end of the day.

CPO came down sharply last Friday due to negative Soyoil prices even thought data showed some supporting facts.  Today Support is 2345 / 2300/ 2265 while Resistance is 2400 / 2435 / 2510 / 2550.  Weak closing on Friday points to weakness in the markets and price may continue to point towards 2300 today.

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