Friday, July 25, 2014

Trading Tips for the Day - 25 July 2014

FKLI will likely open at almost the same point as it closed yesterday.  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 trading day.

FCPO recovered yesterday as prices recovered slightly at CBOT and Dalian.  Price was also supported by rumoured good cargo surveyor's export figures for July 1-25. However negative indicators still persist and any uptick is an opportunity to sell.

Technicals - trend down ; RSI 32.50 ; parabolic SAR at 2296 ; support 2220 / 2200 / 2135 ; resistance 2300 / 2345 / 2400.

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