Supports and Resistances broken, and both markets are going the opposite way

It's been quite a run for both markets. However, FKLI seems to be parading upwards, being at the last month of the year, window dressing activities are most likely to happen. True enough it pushed the KLCI index to a new fresh high of 1847 and FKLI to 1843. However, there was a slight retracement after the recent break of the historical resistance and have set a new historical high due to external factors of where the US Feds on stimulus tapering. FCPO on the other hand had a twist of fate after a strong bullish movement on lower stocks, drop on Ringgit and also the raining season, had took a sharp drop after 2 weeks of range movements. Due to a drop in exports making stocks of CPO to rise. In addition to soy oil that has not been performing well also weighed down CPO as they compete for demands at the same regions.


FKLI

FKLI still shows that the uptrend may still be in tact. Candlesticks are all above the moving averages althought there was a drop on 12th Dec to normalcy of the moving average. However, FKLI is still trading on top of the trend line which shows on a long term, the movement is still upwards with small retracements. MACD lines and MACD-H are on the positive side and has not yet crossed down. Nevertheless, stochastics shows a short cross down from it's 90 resistance. Immediate supports would be 1827 and immediate resistances is 1834. This is for daily trades. Depending on how it opens on Monday, as of a longer term movement, it's best to take a long position on a longer term.

FCPO

FCPO on the other hand took a strong beating down on Friday, 13th Dec 2013. Call it Friday the 13th but it was a field day to short. Breaking crucial supports of 2625 on 12th Dec 2013 and 2600 on 13th Dec 2013 had sent FCPO on a bearish movement and closed at 2561. Immediate supports are at 2543 and the stronger support would be at 2500-2504. A big gap down shows that sellers have way overcome the buyers and they are currently in control now leaving an inverted hammer. The first sign of weakness was in 22nd Nov 2013 where there was a Dark Cloud Cover on the candlestick pattern which sent FCPO to trade on a range of 2600-2692. Opening below 2600 on Friday 13th Dec 2013 had showed that the bulls have lost their power. MACD-H and MACD Lines also are showing strong downward movements where MACD-H ticks lower into the negative zone while the MACD lines crossed down and spreading further apart. Stochastics had shown weakness starting from 9th Dec 2013 and 10th Dec 2013 where it has crossed downwards. With news of lower exports and higher CPO stocks, this could end the bullish movement in FCPO. Having said that, its still best to see how it opens on Monday to be sure of any movement but as for now, it seems that the sellers are ready to take over after a long term of bulls had been done.

Personal View:
FKLI: Buy on weakness
FCPO: Sell on strength