Gold : Short or Long? Analysis on 12.12.2018

Gold in Monthly Chart

Gold in Weekly Chart

Gold in Daily Chart

Gold in Hourly Chart

Gold is one of the interesting commodity that can be traded. If you already traded gold for a long time, you already know gold is really connected with the movement of USD. Gold can be count as one of the volatile commodity.

Today, I like to share my point of view for gold based on three times frame which is:

• Long
• Medium
• Short

For the long time frame, I go based on monthly and weekly charts. We can see gold move on sideway for long time frame if we can see the weekly and monthly charts. I expected that gold will move sideway for three to four years and not so affected by incoming Trade War or Economy Crisis.

For Medium, I can see the broken downtrend maybe only for short time. I expect the gold to go lower for Medium time frame and this likely will happen for next year for the whole year.

For Short time frame, I will go for the bullish based on the strong uptrend for hourly chart. Gold likely will increase until end of this year.

For the all reader, if you are a intraday trader or aggressive trader, this is he time for you to long and take a profit.

Goodluck!

Index Analysis 12.12.2018 : DAX (Europe Market)

DAX looks not so good with current downtrend.

We expect the current downtrend will continue to hit our target 10400 points for this week.

As we can see from charts, currently the price is below EMA 5 and EMA 21 with RSI at 35.5785.

Short is the only answer for this index for this week if you trade this index with target 10400 points based on Psychological Support point.

 Disclaimer: This only for education purpose. Not a buy call or sell call from us.

Stock Analysis 12.12.2018 : Apple Inc (AAPL, NASDAQ, US Market)

Apple Inc currently in downtrend start from early October 2018.

For yesterday, Apple Inc recorded red colour with open at 171.50 points and close at 168.63 points.

We expect that Apple Inc will rebound and go to 190.16 points (0.382 Fibonacci Retracement) for this week.

RSI also indicate that this share almost hit the 'oversold' point with current at 32.8125

We advise our reader to be careful with the downtrend of this share although we target this price will go up to 190.16 points.

 Disclaimer: This only for education purpose. Not a buy call or sell call from us.

Market Outlook 12.12.2018

Dear all,

FBMKLCI ends lower for 6th consecutive day. Our local bourse ended at the intraday low at 1652.63. The KLCI was down by 10.68 points or 0.64%. Losers outweighs gainers by 549 to 253 while 1102 counters remain unchanged.

Volume was higher at RM1.4957 billion as compared to at RM1.3461 billion.

Last night, US Dow started their trading in the negative territory to drop to an intraday low of 23886 and rebounded to close high. Price failed to close below the support and form a hammer. Technical rebounded is expected but we are still bearish.

Europe market trade higher since market open. At time of writing, most of the indices are trading 1% higher. Market regain investors confidence as there were new updates of US-China trade talks.

On Tuesday morning, China reported to have talked on the telephone with US Trade Representative. However, British Prime Minister Theresa May postponed the parliamentary vote on her Brexit Deal. Much uncertainty will be caused with EU refusing to renegotiate a new deal.

For our Asia market closes with mix reactions. Hang Seng and China closed positive, as for Japan, Nikkei closed red. As for our local bourse, it closed bearish. With our local negative news, market sentiment continues to weaken.

Tabung Haji is said to be paying dividends illegally by taking depositors money instead of gaining from investment. However, Former Tabung Haji Chairman denied and accuse this news as misleading the public. With more than Rm70 billion fund under Tabung Haji, this news will put pressures on our local stock market.

All the best for a great Wednesday but be cautious as the overall sentiment of our market is bearish.

FCPO EW Analysis 12.12.2018

• Recent bullish momentum was short lived after FCPO failed to break the 2055 - 2060 zone. As of now, FCPO seems to trade within a contracting triangle. Our primary projection of an expanded triangle looks bleak, but valid nonetheless. 

• With no fundamental element to entice market to climb higher, the last bullish leg (wave c of (e)) of the expanding triangle is likely to develop under the pretext of contract roll over. 

• It holds true, if and only if, FCPO is traded until the end of this week within the range, bound by the upper and lower lines of the converging triangle. 

• That being said, it is essentially important to note that a symmetrical contracting triangle is a continuation pattern, so a strong bearish momentum can fully develop right off the bat.   

• We will take a closer look at the following area as market unfolds.

• Daily Target: 1965 - 1970

Disclaimer: This only for education purpose. Not a buy call or sell call from us.

Technical View FCPO 12.12.2018

• Market closed lower after trading within previous day's range. Selling was prompted by weaker China Dalian futures and the lack of fresh supporting factors. Big drop in crude mineral oil price also undermined sentiment. Ringgit weakened about 0.3 pct but had little effect. Prices were 16 to 40 lower in the morning and remained weak in the afternoon 

• There are concerns that supplies will increase further in Dec with some forecasts of higher end Dec stocks. Bullish factors are also lacking which gave ideas that market is not yet set for an up trend. However seasonally low production in Jan - Mar and prospect of increase use for biodiesel are likely to keep market supported at current relatively low levels.

• Technical view - Prices maintaining the sideway trading range of 1950 - 2050

Disclaimer: This only for education purpose. Not a buy call or sell call from us.

Introduction

Dear all readers,

Hi, I will write about technical analysis everyday basically about Malaysia market (stock, futures) and also maybe little bit about other market.

I will also write about summary of Malaysia stock market everyday and hope all of you can get benefit from this blog.

For those who interested to open the account, I already put the number/link at my blog.

Enjoy reading!