FKLI O - 1571.5, H - 1585, L - 1571, C - 1582.5
Well, it had rallied and broken the resistance of 73 and 82 on Friday, 15/6/12 up to the highest of 1585 and finally ended @ 1582.5 around the resistance level. It was indeed a beautiful Friday for those who long-ed in the morning.
So, the next level that we are aiming for now is around 1593 - 94, provided it breaks above 84 successfully, with a slight resistance @ 89.
Well, it is looking quite close to 1600 level though, will we be able to see it testing this level and break past the historical high? Will Greek's election today be sending the world's indices down tomorrow? Let's wait for some breaking news later.
A brief on DJIA; it ended up positive of 115.26 points / +0.91% last Friday. Well, it was indeed a good Friday for every of the regions in the world. A happy weekend holiday with some pocket money for Father's Day.
It wouldn't be a relaxing Sunday though, as hundreds of employees from big banks are on standby this Sunday, awaiting the results of Greece's pivotal election. Whereby, they are actually preparing for the worst case, of Greece exiting the euro.
Dont worry, Greece will not exit the Euro. No one wants blood on their hands.
ReplyDeleteOn the other hand, the market has already spoken with the rally. What we read on the charts are actually the actions of the insiders - those privileged elite few.