FKLI TRADING : 334) possible reversal but for how long?
this is number 334...
As a summary of what had happened in the full-month Sept: the whole Sept was a total carnage! It dropped frm 1490 to 1390 at the end of the month. Now, since the interest rate hike is probably at the end of the yr (Nov or Dec?), the market finally has some time to catch some breath.
For the technical analysis part, we could see "a higher-high, higher close" formation in hourly candlesticks. Hence, a reversal is formed.
As for the fundamental part, the significant event which might trigger some buying/selling is the recent possible declaration of dissolution of Parliament by our PM, and the announcement of budget 2023, which is regarded as the "election budget". Activities of "window-dressing" is almost certain to create an "economically-sound" country and to generate "feel good sensation" to the people in the hope that people will still vote them in return(will they?). My own two-cents prediction is from the announcement of budget/dissolution of Parliament till the real approach of the imminent General Election 15/GE15, we might have a short window-period of time of small bullish in both stocks market and futures. Likewise, there is no guarantee that what I predict will happen 100% accurately. Nothing is certain now, only that the interest rate's increment is imminent and we might have another round of massacre in Oct till Dec period.
higher resistance : 1443-1460
resistance : 1427-1430
lower support/ : 1380-1407
WARNING!
RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures , crypto, commodities or forex might incur a huge risk to your account/funds…DON’T LOSE MONEY THAT YOU CANNOT AFFORD…any idea(s) of trading in this episode SHALL NOT be regarded as a hint of BUYING or SELLING. It is MERELY a trading journal and it has been used for educational purpose only… trade at your own risk!
**your "LIKE" and "FOLLOW" are my main source of motivation to continue posting more valuable contents...TQ*
As a summary of what had happened in the full-month Sept: the whole Sept was a total carnage! It dropped frm 1490 to 1390 at the end of the month. Now, since the interest rate hike is probably at the end of the yr (Nov or Dec?), the market finally has some time to catch some breath.
For the technical analysis part, we could see "a higher-high, higher close" formation in hourly candlesticks. Hence, a reversal is formed.
As for the fundamental part, the significant event which might trigger some buying/selling is the recent possible declaration of dissolution of Parliament by our PM, and the announcement of budget 2023, which is regarded as the "election budget". Activities of "window-dressing" is almost certain to create an "economically-sound" country and to generate "feel good sensation" to the people in the hope that people will still vote them in return(will they?). My own two-cents prediction is from the announcement of budget/dissolution of Parliament till the real approach of the imminent General Election 15/GE15, we might have a short window-period of time of small bullish in both stocks market and futures. Likewise, there is no guarantee that what I predict will happen 100% accurately. Nothing is certain now, only that the interest rate's increment is imminent and we might have another round of massacre in Oct till Dec period.
higher resistance : 1443-1460
resistance : 1427-1430
lower support/ : 1380-1407
WARNING!
RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures , crypto, commodities or forex might incur a huge risk to your account/funds…DON’T LOSE MONEY THAT YOU CANNOT AFFORD…any idea(s) of trading in this episode SHALL NOT be regarded as a hint of BUYING or SELLING. It is MERELY a trading journal and it has been used for educational purpose only… trade at your own risk!
**your "LIKE" and "FOLLOW" are my main source of motivation to continue posting more valuable contents...TQ*
