edramlan

edramlan

Technically at the current level KLCI looks heavy. If price cannot hold above 1615 then a bigger retracement is expected towards 1585 to 1571 support area.

edramlan Updated 

Price has been in consolidation mode for at least 2 weeks. Good trading weeks for range traders but definitely not good for trend traders. Will be looking for further price action early next week to further determine the direction. Price needs to close either above or lower of the resistance or support level. Overall view is still bearish based upon how aggressive...

edramlan

FCPO retraced but didn't go as far as expected. It's showing a bearish price action since middle of the week. For next week it is expected that bearish price action to continue. Shorting it will target the area of 3745 and 3721 as potential TP.

edramlan

FCPO is consolidating. It is bearish however some retracement is expected. A retracement would perhaps target the 3945 to 3965 area though there is a few resistance that price need to overcome.

edramlan Updated 

FCPO might have shifted bearish. However for next week, there is a possibility that it might bounce higher. Price is expected to target 4090 area and possibly higher above 4100 area. From there it is expected that price to continue lower depending on the price action next week.

edramlan

FCPO looks heavy. The drop might not ended yet but there might be a retracement higher. At this current level standing aside might be a good idea. Monday price action might be a good indicator on where price will go this week. Stand aside for now until new signal emerges.

edramlan

A further retracement lower is still in play. A reversal on Friday may turn out to be only a manipulation. The move higher might only be to fill up the gap at 4300 area before continuing lower. 4200 is the area where price should be next week. Expecting a consolidation in this area before the next move higher. Overall still bullish until proven otherwise.

edramlan

Still with a view that a further retracement is possible to the 4280 area. However the overall theme is still bullish. Depending on volatility, the price might consolidate at this area before going higher.

edramlan Updated 

I think FCPO has found a support last Friday. Price failed to continue lower instead there is a strong push to the upside. It is also align with the support area created in March. A push higher will probably target 4244. Once the resistance line have been breached then 4280 should be a new target.

edramlan

Last week bull failed to take full control. At the current level, the price looks a bit heavy and there is a bear push lower. It is 50:50 at this moment but the likelihood of another run higher might not happen next week. Anyhow a retracement lower is likely before another run higher. 4030 area is a target next week and price might consolidate after that. At this...

edramlan Updated 

FCPO is making a push higher. Still with bullish view unless shown otherwise. As price didn’t go in a straight line, it is expected that it might retrace a bit towards 4200 area (this is also the area to look for entry to go LONG) to fill up the gap before making another bullish push. If this happens next week, then another leg higher should target the previous...

edramlan

The price is still bullish however some retracement is expected before a run higher. Expecting that this week it will make retracement towards 3995 area. Depending on the price action, another bullish push towards 4208 area before a quick run towards 4250 area (which might not happen so quickly).

edramlan

FCPO is to go higher. Strong bullish push towards a target of 4247 to its way to a higher target of 4425.

edramlan Updated 

At the current price going LONG might be a good idea. Initial target should be around 4035. Expecting a bit of retracement after that before another run higher.

edramlan Updated 

FCPO is coiling. Price is almost stalling last week. It goes up one day and then it got taken out the next day. So at the end of the week it is more or less moving no where. It might do the same next week within the flag formation. Still with bearish view for price to move to 3720 area which might be the support area before price eventually moving higher. The...

edramlan

There is a resistance at this current price. Expecting a retracement before another run higher. Shorting bitcoin to target 66700.

edramlan

FCPO might see a bearish price action next week. Probably before that there might be a retracement higher toward 3875 area before the move lower to target 3721.

edramlan Updated 

After going higher the price closed lower at the end of the trading day. It createed a high wick which indicate that there is still possibility that price is going lower. Based on this for Week 7, price might see a movement lower towards at least 3815 area. Will need to see the price action at this level to see if price wanted to go higher.