Good day everyone!hope all of you are happy that tml is a holiday ( for sgreans)! Hari raya haji to all the malay friends :)
Okay, as the NFPR (Non farm pay roll) report was out, the market as usual had quite big movements, but eventually euro problem was still the main concern thus, that's why stock rose back after which (with much lower magnitude of droppage).
Simsci had a broadening bottom over the aug-oct period, and the Trendline was tested and it holds. The recent pull back had to 311 region and later on reclaiming 317 and 324 region to me show bullishness in the fight back,holding above 324 region will led the way to 330 region where i guess major resistance might be around there. Sign of weakness can be observe for simsci from MACD and RSI,but i shall wait for more confirmation.
DJI, to me had been supported by 11630 and it act as a support as of now. This level if you realize also is the 50% fibo line in the daily chart. Thus, to me DJI's bull had not totally died yet. Levels that i am look at of coz will be 11630 to break if i going short, i might short small on monday if it reaches 12040 again since if it breaks down again will confirm a lower high formation, and we might be having a downtrend.
Spot Gold, at 1766-68 region got resisted by its daily 61.8% fibo line,this for now proves as a strong R. I am looking for gold to retest this region to confirm my hypothesis.....
USD basket on hourly chart had trend change to a uptrend but it still has some heavy resistance and difficulties in breaking the 7780 level but first it needs to break its window gap at 7728-7748.I believe that for now 7685 will be the base, once broken, it might not be good to long xxx/usd currency pair.
Euro/usd had caught my attention as it has been hovering around 1.383 its R for daily which also is the 38% fibo line. Around this level, EUR was unable to break above it...entry at 1.385 was a good entry but i was away outside on friday night...ha...damn..but do note that volatilty is there for euro as euro crisis definitely will affect this currency pair very very much! ;) , just take a look at the interest rate change that affects its movement. Do note that the hourly chart formed a bear flag
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