CI & Futures Ready to Test 1240 & 1245

The US & Regional Market has been quite bullish for the past few days after a two week minor correction. KLCI Futures went down to 1200 where a strong support is formed. And has rallied to 1235 Level since Monday.



Currently a resistance is forming near the 1240 level and support formed at 1230. If you notice, the KLCI Futures is always normally about +4 Point Premium from the KLCI Index. Now KLCI is 1230, where as the Futures is 1234, it was as high as 1236.50 where the signal was super bullish.

Do expect a slight pullback after it breaks 1240, and good entry point again would be 1230 to long with 1225 as support.



KLCI Shows that there is currently a beginning of an uptrend, however, expect a slight rest after a week of rally, next week alot of Banking Results will be released from the US, so do be careful.

In summary, my view on the market. US DJ must break 10,000 for the KLCI Futures to break 1250. DJ is now 9786.87, just another 213.13 points to 10,000.

KLCI Futures is now 1234, just another 16 points to 1250. I don't wanna predict 1300 for now coz market might see some pull back when hitting 1250, I follow MACD, Stockastic and RSI in the charts strict, if the signal is good, I will still hold my positions and let the bull run. Else just take profit and enter again when the market is near bottom using 5 min, 15 min and daily chart to strategize.

Good Luck with your trading and remember to monitor buyer/seller volume. Currently my view for futures is:

Imemediate 1st Support 1230, 1st Resistance 1240.
2nd Support 1225, 2nd Resistance 1250.
3rd Support 1220, Strong Resistance at 1260.