Wednesday, October 7, 2009

Dow Jones Still Have Strong Resistance To Break Through ?

Well the Dow Jones Industrial Average perform quite well these two days but still the DJIA still have a major hurdle to penetrate their strong resistance at 9,850 points to 9,900 points level. Even if the DJIA have the capabilities to penetrate the strong resistance level, still our share market performance are not moving accordingly (especially the speculation counters).

Some even created new low. With the FBM-KLCI still staying at high, it is quite difficult to understand why our share market is not moving? No doubt the DJIA seems to have the ability to bring the world equities market to move higher but still we need to be well alert on our Malaysia share market performance (when the share prices keep on going down and created new low, it is not a healthy sign) or maybe an opportunity to buy at low ?

GOLD

Gold futures hit a new high on Tuesday, lifted by weakness in the dollar after Australia hiked interest rates and after a report that Gulf-area oil producers, along with China, Russia, Japan and France, are planning to eventually end dollar-based oil pricing. Gold for December delivery rose as high as USD 1,045.00 an ounce in electronic trade, topping the previous record of USD 1,033.90 in March 2008.

If the Gold prices went up and created new high, was it a right time to buy and invest in PohKong shares? From the chart wise, it seems that PohKong share is building up its base and prepare to move higher .......

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