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FCPO - The Bull
Refuses To Yield - 2/3/2014
The market immediately lost strength when it opened last week. Price closed below the all important middle band and took out my stop. A new sell signal came in on 28/1 when price stayed below the middle band and the Stochastic turned negative, but the sell signal was not fulfilled as the next day price did not go below the signal day low. I am now without any new position as there was no new signal. By the last week ended, price has shown some strength on the buy side again and the Stochastic has turned positive again. So I would look out for a probable new buy signal in the coming week. I would need to see the price crosses up above the middle band with the Stochastic stays positive. But a more solid buy signal would come when if price can close above its recent fractal high of 2604.
The MACD remains negative but it looks like it may go up again. The DMI remains negative with D- falling and D+ rising. This would mean the buyers are fighting back and the sellers are chickening out. The ADX remains flat at 20's, this could go either way.
The weekly chart's Stochastic is still falling while the MACD remains negative but flat. Price manages to hold above the middle band but was not able to penetrate the top band. The ADX is still falling with the DMI closing its gap. All these are pointing at a sideway market. Things to watch out in the coming week will be the top band breakup buy signal or the middle band support breakdown sell signal.
The monthly chart remains sideway as the past 3 months Japanese Candlesticks displaying it beautifully graphically with 3 smallish Candlesticks sitting on a row. The Stochastic continues to rise and so is the MACD. The MACD is still relatively "far" from its zero signal line, so it does not help the bull much. The DMI remains negative with the ADX just turned flat. This may be signaling as a possible turn of trend ahead. But at this moment, I cannot think of anything but to say this is just a sideway market.
The US Dollar Index chart needs to close above 81.525 in order to summon the big bull which I think should bring the buyers back to the FCPO. Meanwhile we begin to see a lot of self denials and show actings from the emerging market governments as if they should not to be blamed for the current fast unfolding crisis. Argentina government just announced they threatens to "Get Tough" on businesses that raise prices. Sound familiar ? It is so silly that many governments tend to think their rakyat are idiots and fall for their acting.
The market immediately lost strength when it opened last week. Price closed below the all important middle band and took out my stop. A new sell signal came in on 28/1 when price stayed below the middle band and the Stochastic turned negative, but the sell signal was not fulfilled as the next day price did not go below the signal day low. I am now without any new position as there was no new signal. By the last week ended, price has shown some strength on the buy side again and the Stochastic has turned positive again. So I would look out for a probable new buy signal in the coming week. I would need to see the price crosses up above the middle band with the Stochastic stays positive. But a more solid buy signal would come when if price can close above its recent fractal high of 2604.
The MACD remains negative but it looks like it may go up again. The DMI remains negative with D- falling and D+ rising. This would mean the buyers are fighting back and the sellers are chickening out. The ADX remains flat at 20's, this could go either way.
The weekly chart's Stochastic is still falling while the MACD remains negative but flat. Price manages to hold above the middle band but was not able to penetrate the top band. The ADX is still falling with the DMI closing its gap. All these are pointing at a sideway market. Things to watch out in the coming week will be the top band breakup buy signal or the middle band support breakdown sell signal.
The monthly chart remains sideway as the past 3 months Japanese Candlesticks displaying it beautifully graphically with 3 smallish Candlesticks sitting on a row. The Stochastic continues to rise and so is the MACD. The MACD is still relatively "far" from its zero signal line, so it does not help the bull much. The DMI remains negative with the ADX just turned flat. This may be signaling as a possible turn of trend ahead. But at this moment, I cannot think of anything but to say this is just a sideway market.
The US Dollar Index chart needs to close above 81.525 in order to summon the big bull which I think should bring the buyers back to the FCPO. Meanwhile we begin to see a lot of self denials and show actings from the emerging market governments as if they should not to be blamed for the current fast unfolding crisis. Argentina government just announced they threatens to "Get Tough" on businesses that raise prices. Sound familiar ? It is so silly that many governments tend to think their rakyat are idiots and fall for their acting.
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