Trading Tips for the Day - 7 July 2015

FKLI will likely open lower today, for the first trade, one can attempt to Short 1-3 points above 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.

In other news...

Crude Oil prices tumbled the most in 3 months, with U.S. Crude falling nearly 8% after Greece rejected debt bailout terms and China rolled out emergency measures to support its stock markets. Adding to the pressure on oil markets, Iran and global powers were trying to meet a July 7 deadline on a nuclear deal, which could add more oil to oversupplied markets if sanctions on Iran are eased. 
* Crude oil $52.53 (-4.4)
* Brent crude $56.50 (-3.8)

🇺🇸 U.S. stocks fell, weighed down by a tumble in oil prices as well as Greek voters’ rejection of creditors’ conditions for further financial aid. Energy companies were the worst performing group in the S&P 500, falling 1.3%, as the price of oil fell to a nearly three-month low.

€ European stocks were down at a 4-3/4 month low after Greek voters’ rejection of austerity measures in Sunday's referendum increases the chances that Greece will be forced from the Eurozone. Stocks rebounded from their worst levels after Greek Finance Minister Vaoufakis resigned, which boosted speculation a last-minute deal with Greece's creditors was possible.

🇨🇳 China's Shanghai Composite Index closed up +2.41% after surging as high as 7.8% at the start of trade. The government suspended initial public offerings and the PBOC said it would provide liquidity for margin trading ($19b capital base).

🇭🇰 Hang Seng index reversed direction to slump 3.2%, hitting a near three-month low, as index heavyweight Hong Kong Exchanges and Clearing plunged 9%.

👑 Gold fell as a robust dollar outweighed the impact of lower equity markets and some retail demand after Greek voters rejected the terms of a bailout in the earlier session. However, gold turned higher at closed as France and Germany told Greecethe door was open to negotiations. Now, $1,169.40 (-0.60)

🌴 FCPO (RM2,235) closed lower after sharply lower China Dalian futures and crude mineral oil. Long liquidation and technical selling added price pressure. Fundamentally, the seasonal higher production and big global supply of soyabean are weighing on the market.

🌺 Malaysia's ringgit plunged on Monday to levels not seen since the late 1990s Asian Financial Crisis, taking a double whammy from the dual dramas of domestic corruption allegations and Greece. Now trading at RM3.8100.