Most likely Markets will continue to slide as buyers seems weak overall…
Posted by admin in Commodities, Events and Advertisements, Forex Analysis, Futures Pick, Market AnalysisGood Morning,
I got 3 THANK YOU to say…
First, I would like to thank all my support and friends who made their way down to SMU despite not even having their dinner before they attended my talk. Deeply appreciate that. 
Second, thank you for the nice encouraging words that you gave me for my new career… deeply touched.
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Today, I am a tab busy as I need sort out some admin on my side but this is what I shared with my grads… and I would like to share it with you too since all of you are so nice and kind people…
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Hi All,
I am outside doing some work so alittle late in today’s market commentary.
Today I am still very bearish with the markets especially if Shanghai Index fail to stay above 2550, this market will re-enter into bearish mode (In my opinion)
I am looking at HK to close around 19300 level today. If that happen, most likely, we will see 19000 again by this week.
For the STI, 2701 is the critical reason for any buyers in the market based on our V3Go Diff. If the STI fail to stay above it by this week, most likely, we are going to see 2650 again.
Crude Oil most likely will re-test US$69 level again. At the moment, it is trading around US$72. The reversal of it last night clearly shows that the market is not having the strength for further upside.
Euro has a critical support at 1.2152 and tested and supported last night. I am looking at it to hold for now. But if it doesn’t then, I am looking at Euro to test the psychological level of 1.20 as I believe the ECB is going let its currency slide like the Greenback in 2009, so that in order to attract investors to return back to the battered economy.
In summation; If possible, kindly stay out in the market today if you have the intention to go long. The risk vs reward ratio is currently against the longists. If you are intending to go short, wait for each rally to come in.. and as long as its below OP of the day and diff is in play, you can go for it.
Have a great trading day ahead!
Kelvin
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