2825 will the critical suppport for the STI today. Stocks, Commodities & Forex calls.
Posted by admin in Commodities, Forex Analysis, Futures Pick, Market Analysis, Stock PickGood Morning,
Dow reversed a 170points deficit to close positive on the recovery of the Euro as the currency hits a 4 year low yesterday which led to some short covering by the market and bargain hunting.
BUT
1. If the STI cannot stay above 2825 today, there could be further profit taking as this level is a critical level based on our V3Go technique.
2. Euro have to stay above 1.2393 for today… if not, the selling may continue… and if the Euro is noted to be the reason for the recovery of the Dow then it is very logical that the Euro cannot falter back. If yes, holding on weak stocks will be a problem.
Watch the US Crude Oil at around US$69.60 today. If the market can firm above this level by today, I am calling for a LONG on this commodity. More details will be release once we see more confirmed signal but shorting will not be recommended at this level.
Watch Gold as we believe we are going to see some profit taking on this uprising commodity as the recent price action on the chart seem to be suggesting that. Currently, it is trading at US$1225 now. I am expecting Gold to go back down to US$1200 by this 2weeks.
For local stocks;
1. Genting can go long as long as it stays above 98cents today. Should it close lower than 98cents, one can consider cutting your long position.
2. Cosco, can go long as it stays above 1.57 today.
3. NOL, as long as it stay above 1.99, one can go small long on it but if you want more assurance, then wait for 2.06 to clear.
Disclaimer applied.
Event Annoucement: We are 85% full for tonight’s event. Please kindly take note that it will start at 6.30pm today at SMU. We will only entertain those who made the effort to email us. Walk in crowd will not be entertain. For those who have registered, you can bring as many trading kakis along, as long as you provide us the name and contact numbers to Sales@genesismgt.com.sg
Kelvin Han
aka Trend Master
V3Go Originator
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