Categories
Agriculture Commodities STI

Wilmar

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Wilmar is currently among one of the stronger stocks in STI.

On March 12, the chart shows a bullish signal.

Tenkan sen crosses the kijun sen.

The volume is not very high; a reflection of the current weak market conditions.

On the  weekly chart, it has not break through the kumo resistant yet. Weekly resistant level is at around $3.72

The recent US rally has also seen this stock spike out of its channel.

Expect a little bit of pullback. This one is going into my watchlist.

Categories
Agriculture Commodities

PowerShares DB Agriculture (DBA)

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The PowerShares DB Agriculture (DBA) has a gap up the day US announced that they are buying back US bonds over the next 6 months.

Price level held steady at the gap level and is out of the kumo resistant at around $25.

The volume is above average, however, the price has not move rapidly up. 

This is probably a sign a knee jerk reaction to the weak US dollar rather than increasing demand.

Howver, in the long run, US dollar seems poised to go downwards further with the Fed printing more money.

Categories
S&P500

S&P 500 : Week ending 20 March 2009

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S&P 500 has a distribution day on 20th March 2009. 

We can see that S&P continue to face resistant at the 800 level. A break through above this level could suggest continuous ‘up trend’. However, we need to be careful about a continuous ‘bear rally’.

With this turn, the chart is suggesting the rally is losing its momentun.

We might see it move down and rebound off the support level at 675 (as shown by the chikou span – green line).

Most likely, we will see a rebound off a lower level, and what we want to monitor is whether the index break out of the 675 – 800 trading range.