On 7th April 2016 we had a Webinar Session on the title “Spotting for investing opportunities in the Bursa Malaysia Stock Market for the Year 2016” and had mentioned:
- Crude Oil to remain supported above $35 and will be trading at the range of $35-$50 for the Year 2016.
- U.S Dollar Index to remain below $96 and further downside to be seen once it break below $92.
- The Malaysia FBMKLCI to remain supported above 1685, no downside risks seen and index to target 1800 by end of the year.
- Plantation, Banking & Finance , Construction, and Steel Sector to be among the Hot Favorites Sector Picks for Year 2016.
- The role of how Technical Analysis helps an investor/trader to understand the movement of their stocks.
If you wish to watch back the recorded version of the webinar click on the link below:
( https://attendee.gotowebinar.com/recording/4708487395966016515 )
U.S Dow Jones Industrial Average
The U.S DJIA Index;
Historical High: 18,351pts
Current Closing: 17,909pts
The DJIA Index strong closing on Wednesday at 17,909pts will need to take its next challenge towards its 18,000 psychological resistant. Do note that the DJIA Index Historical High was at 18,351 which will be a strong resistant to resist the market price.
Crude Oil to trade between $35-$50 for the Year 2016. Recent rally may be followed by a healthy price retraction towards $38.
Malaysia Futures Crude Palm Oil
Prices of the FCPO retraced towards its support and a rebound is triggered on Wednesday. Upside potential seen and to aim for higher high.
The Malaysia FBMKLCI is currently at its Donkey Resistant of 1727. Improving global market sentiment will highly send the FBMKLCI to break out of this resistant. Our views remain the same on the FBMKLCI to hit 1800 pts.
“Stock Picks? Follow us on the next blog post on stock picks”
(10 Years Position Equities Trader, Founder of trendfollowingmalaysia.com)