Dow continue to surge but I doubt Asia markets will follow…
Posted by admin in Futures Pick, Market AnalysisGood Morning Everyone,
Both Crude and Dow kept rising higher on positive sentiment BUT I doubt the Asia markets can continue its upside.
Our V3Go Indicators are displaying ‘losing strength’ signals… NIKKEI should be resisted at around 10820~10835 range while the STI should be resisted at around 2930~2934 and the Hang Seng Future resistance should be around 21600s level.
CPO stocks are also not really moving up despite the STI crossing the 2900 level and crude staying above US$82/barrel. Once there are weakness in this sector or the general market as a whole, we will re establish our short positions ( we closed some on small losses yesterday) on them. I am still looking at the Crude Oil to take below the US$80 mark again first before its march up towards US$90/barrel later this year.
WIth the entire morning pretty dead in both trading and transacted volume, I don’t really see much of concern to be sticking around the computer for today. Will be taking a little break and come back in the afternoon to see if there is anything that caught my eye. Yawn….
Cheers! Disclaimer apply as usual.
May you have a fruitful day in trading!
Kelvin Han
aka Trend Master
Chief Trainer
Originator of V3Go Mentoring Program
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