FCPO Commentary on 21/12/09

CPO 3rd month Mar futures contract traded RM33 points higher as compare to
previous trading sessions to close at RM2620 with a total of 7,146 lots traded
in the market. CPO price was traded higher with some profit taking activities during
trading sessions as soybean oil and crude oil electronic trading were traded
weak during trading sessions.

CPO price seems encounter great selling activities around 78.6% and 23.6% Fibonacci
resistance level at RM2619 and RM2628 region which directly cause CPO price into consolidation phase. Technically, CPO price still seen bullish provided that critical support level at RM2488 and RM2541; 61.8% Fibonacci support level, were not violated during trading session. However, CPO price would seen continue to surge provided resistance levels at RM2622; Indicator Stop And Reverse, and RM2640; 61.8% Fibonacci resistance levels were penetrated.