May We All Have a Prosperous 2018!

Happy 2018 to our readers!

It has been almost 2 months since our last Blog update. Our apology..

The team was embarking into a new project related to Automated Trading and Machine Learning for Futures Crude Palm Oil.

Anyway, we hope all of us had a good Investment Return for 2017 and since we are still in the Bull run, let us ride this Bull Train together. Remember guys, let the profit runs and cut short the lose.

To update our readers, our KLCI closed the year with a fantastic result with y-o-y up for 11% at 1,796.81 points. The MYR finished the last trading day today at 4.0440/05 versus the USD. This is a news for celebration thanks to recovery of the Brent Oil Price, upbeat economic data which attracts foreign fund flows and prospect of a higher OPR by Bank Negara.

If you could recall based on our posting on FBMKLCI October 29, 2017 here, we mentioned the following:



Recent price movement indicates a stronger bearish trend.


Price range is typically larger and has supporting volume. Bearish Breakouts are expected when this occurs around the most recent minor resistance level. If this occurs at the bottom of a range with supporting price action, this indicates accumulation volume at the given support level of 1710-1720 points.

The bourse indeed touches around 1710 level, and bounced back. Today, after first week of 2018, KLCI managed to close above 1800 level. A good start of the year.

Now here's our update.


Daily Time Frame:

Weekly Time Frame:


Trend Recent price movement indicates a stronger bullish trend

Expectation Price range is typically larger, and has supporting volume. Bullish Breakouts are expected when this occurs around the most recent Minor Resistance level. If this occurs at the top of a range and is followed by volume exhaustion, this indicates a selling off climax

Strength Based on recent volume movements, volume is Very High. This shows professional buying and selling.Volume is Currently above average which adds to strength and continuation of the current trend

We expect there will be a strong resistance around 1860 level.


FCPO failed to break its resistance at 2820 level based on our last update.

It touched 2415 support level twice based on the chart below. It is a beautiful setup as FCPO made a double bottom setup. We managed to get into these trades and swing it until Friday Jan 5, 2018. We noticed there's some resistance level and rejection at the moment.

Currently, there is no clear setup that entice us to enter any position.

All charts powered by Metastock

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#KLCI #Futures #FCPO #Malaysia #TechnicalAnalysis #Metastock

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