KCPO:- Maybe Some Corrections But Bull Remains Strong - 12/13/2010

  

As the ADX continues to stay flat, so I would still place more emphasis on the Stochastic. It is in the overbought zone, so I would want to keep my stop as close as possible. The upper Bollinger Band minus 5 pips at 3534 should be a reasonable place.

The weekly chart continues to stay bullish as ever. Both the ADX and MACD are still rising confirming the current trend is strong and intact. The candlestick is a healthy large body bar. There is nothing much to predict the presence of the bear yet.

Unlike many of the commodities which have been rallying the past few months, KCPO charts does not have anything particularly bearish yet. Though I am getting very bullish about the re-emergence of the US Dollars bulls and the possible demises of gold, crude oil and some of the grains, at least KCPO bull should be "safe" for the time being.