Morning Highlights:

The market breaks out and opens high of 2356.39. It is now easing back.


From the chart, we can see that the today’s gap is a breakaway gap.


There is a high chance for the market to try to fill up the gap. However, if it doesn’t fill up, there might be some room for upside.


Our Focus for today is on Commodity Sector


Wilmar test the high of 5.10 but fail.


Olam is still struggling. Till then, we have to see where the market is trending when July approaches.



Afternoon Highlights:

The Market is resilient to fall. It traded below 2330.22 after 15:45 this afternoon. This is a resistance point that we are following very closely. More evidence is needed to test whether 2330.22 is a good support.


STI has created a low of 2322.08 and close at 2326.20.


Looking at STI chart of 15min timeframe, today’s market show weaknesses in shares. From 12:00 to 15:30, market went into consolidation. It was only till the last hour of trading, we see some market reactions, but the gap is not filled up.


Referring to the daily charts, both moving averages are crossing. Nonetheless, we are still unable to define a clear trend of either direction; hence, traders are advised to enter positions with small risk and to take quick profits.


Looking at Cosco Corp, today had tested low created on 23th June of 1.25. You can see from the attached chart the moving averages have crossed. 

Cosco Corp Daily Chart

We have not entered any positions for today.


Please refer to the attached screen shots for clearer view.