Wednesday, July 23, 2014

Trading Tips for the Day - 23 July 2014

FKLI will likely open higher today, 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 away from your entry point.  Close your position by the end of the day.

FCPO continued to weaken due to weakness in Soyoil in CBT and China Dahlian futures.  A break from congestion area is negative, and price will be very likely be attracted to the next level of 2200.  Technicals - trend down ; RSI 27.69 ( oversold ) ; parabolic SAR at 2323 ; support 2265 / 2200 / 2135 ; resistance 2345 / 2400 / 2435.

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