World Cup Fever! – FKLI 100615

Nothing much to mention with the current quite and calm markets that we are experiencing now, world cup fever superseded the financial market fever! Market without volatility is hard to trade, investors can only profit from the range trading.
For mid to long term trading, we will maintain our bearish call for futures so long as the 1303 of the cash market is not being taken out. The support for the day is seen at 1295 level and the resistance is seen at 1308 – 1310 levels.

US MARKET

Overnight US market gave back all the profit gained in the early session and closed in the negative territory after Greece being downgraded by Moody to non-investment grade (junk bond) and the inability to breakthrough the MA 200 important overhead resistance level.
Overall technical remain weak so long the MA 200 level is not being taken out convincingly. The support is seen at 10100 level and the resistance is seen at 10315 level.

[Reminder:
1) China market will close today in accordance with the celebration of Dragon Boat Day. 2) US will release its NAHB Housing Market Index (Survey 21 Vs Prior 22) later tonight.]

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The information herein was obtained or derived from the source that we believed are reliable.No liability can be accepted for any loss that may arise from the use of this report.All opinions and estimates included in this report constitutes our judgement as of this date and are subject to change without notice.