Would you have bet on the Malaysian Index?

Posted on by The INO.com Team

Hello traders everywhere, Adam Hewison here co-founder of MarketClub with your 1 p.m. market update for Monday the 20th of June.

The big news over the weekend was Greece and the 17 nations were unable to come to an agreement to put together a package for that beleaguered country. This agreement has been pushed off yet again until July. Markets both here and Europe initially reacted in a negative fashion but have come back and appear to be regrouping and rethinking the implications of this delay.

The bank stocks however still look sick and the trends are clearly down in this sector.

The Shanghai and Hong Kong indexes are also looking very negative as are most equity indexes around the world. The only index that is looking positive using our trade triangle technology is the Malaysian index.

Let's take a look at the major markets now...

S&P 500: -60. The market action continues to reflect a trading range. The market is at the lower end of the Donchian channel and is oversold so we may see a rally to resistance around $1,300. Major downside support is at $1,250.

Silver: +55. I would watch this market very carefully as I feel that it is probably at the lower end of its range. We would use the Donchian channel as support. We may bounce around for another couple of weeks but come July I think we'll see this market on the move. Market is oversold and expect to see a bounce from current levels. Near term resistance at $36.00. Support at $34.00.

Gold: +90. All systems are go for gold and we expect this market to do better. The Donchian channel has resistance at $1,353 today. Major support at $1,513.

Crude Oil: -90. The trend in crude oil is clearly down with all of our Trade Triangles in a negative position. The market is however heavily oversold and at the lower end of the Donchian channel. We would expect to see a bounce from current levels but would like to see more positive action.

The Dollar Index: -65. Our indicators are still negative longer-term for the dollar. Minor support at $74.00. Major support at $73.00. Big resistance at $76.00.

The Thomson Reuters/Jefferies CRB Commodity Index: -70. We are at the lower end of the Donchian channel and the market is oversold. We would not rule out some sort of bounce from current levels. Market still appears to be in a broad trading range.

Every success,
Adam Hewison
President of INO.com
Co-founder of MarketClub

10 thoughts on “Would you have bet on the Malaysian Index?”

  1. Will I still able to get Market Club services in Malaysia? Leaving soon for a month?

    Thank You
    Malli

    1. Malli,

      Yes, MarketClub is worldwide. Wherever there is an internet connection MarketClub is there.

      All the best,
      Adam

  2. hallo!
    iam come from china, iam do trade of forex and option and future and european (usa) shares to 5 years.
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  3. Why do I have to enter login information every time I try to view the update? I have already registered for ino tv ten times!!!!!!!

    1. Hi Bill,

      I see that you are a MarketClub member...the most recent video automatically updates to the MarketClub home page. The 1PM updates should be uploaded at about 1:30pm ET.

      Cheers,
      Jennifer

  5. Yes, I would have bet on Malaysia! I have been to Kuala Lupur many times! Husband had an office there and it is one of the most dynamic places I have visited in SE Asia..Now Australian company, Lynas is in there procession rare earths. When ASX stocks are up and running here, Lynas would be a good company to watch...S
    PS just checked Lyans ( lyc.ax) and it is up almost 4% today!

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