Biz Direct MarketKnowing When To Make A Good Decision

The SETI broke the 640 points resistance levels as the bulls are controlling the market. It is one of the best performing markets in the Asian region despite government protestors planning to stage massive protests in the last weekend of August. At 656.98 points, the benchmark index is almost at a years high. The SETI is still hovering above the 50% Fibonacci retracement level from the bear

The June 24th high of 1.1021 has capped all price action since that date. The market is currently testing an important level of support around 1.0556. This level has been tested several times and is likely to be exceeded to the downside. A logical next target is between 1.0370 1.0200.Daily Gold chart as at 28 August 2009 using NextVIEW Advisor. Click on chart for larger view.TECHNICALSMACD

The price of FCPO went into a bullish rally for one month in the mid-July to mid-August. The price climbed RM525 per metric ton or 26% from a low of RM1,990 to a high of RM2,515. The price then went into a correction, goes to a low of RM2,234 before settling at RM2,366 at the end of the month. The RM2,234 low was a 50% retracement from the one month bullish rally and the 30-day moving average

The US equity market continues its bullish trend with a marginal increase. The DJI closed 4% higher month-to-month at 9,544.20 on Friday. Increase in housing sales, better than expected corporate earnings and positive statements from the central bank boost investors confidence. Investors were trading cautiously as the job market has not been improving much. The market has been supported well.