The EUR/USD and EUR/JPY has reached a resistance after a very satisfying up move. So one will have to wait for another test of low before buying in again. For those who are more speculative, one can short these two crosses as they hit a month resistance. My weekly timeframe is showing a bearish pinbar for EUR/USD. AUD/USD has tumbled down after 2 bearish pinbars. Congrats for those who shorted AUD/USD last week!
US Stocks
Seems Dow Jones Index has hit a resistance and coming down. Support was seen for Friday.
Wells Fargo failed to move higher after its support.
Singapore Stocks
Kepland had a freak rally on Friday going from $4 to a high of $4.26. I do not know what news came out for this stock but it was really a big one. After the high, profit taking by banks pushed it down to become a very big pinbar. Will it continue up more? Take some profit and I suggest waiting to buy another low will be better than buying the high. Profit from this stock would have netted you a handsome reward if you bought it at a low last month.
Time to short Osim?
For Wilmar, after a huge one day rise, it was pushed back down into a resistance zone. For the coming weeks one will need patience for this stock. Rewards will be very good if it manages to move up above.
Genting may be in consolidation mode. May have more upside.
Guess 21/12/12 was not the end of the world yet. According to the Chinese calendar, it is the winter solstice where everyone will gather together and have "tang yuan" soup. Well and according to some other sources about the Mayan lore, 21/12/12 marks the end of an era and comes a new age of "consciousness" which means will we gain new telepathic powers? Can we read minds and communicate without phones in the future? That will be exciting!
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