FKLI closed 10 points below cash at 1546. With DJIA up 57 points on last Friday, we shall see a close gap between cash and futures. FKLI formed a weekly big upside bar, it might test the previous high at 1580, provided it can go above 1565 level. Trading idea is more preferable to buy side.
FCPO formed a Bullish Harami on weekly chart, but we still have to depend on this week movement to decide if the market has moved to a new territory. Soyoil close down 10 ticks last Friday but still showing an upward movement. We shall see market open above 3350 for the favour of long. If not, market shall face some selling pressure as the overall trend still more to downside. Trading range is expected to be around 3325 – 3425. Support level: 3350, 3325, 3310. Resistance level: 3380, 3400, 3425.
Net Position: Long FCPO @ 3293
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