FCPO Daily Commentary for 15th Apr 2010

FCPO June Futures contract traded RM6 lower as compare to previous trading sessions to close at RM2528 with a total of 6,849 lots traded in the market. FCPO price were traded sideways during entire trading sessions as crude oil and soybean oil were traded mix during overnight and electronic trading.
FCPO price were traded within a symmetric triangle formation in the hourly price chart despite there was a spike up at RM2594 levels during last week trading. Technically, FCPO price still trading within sideways range from RM2500 and RM2606 regions. Huge price movement would anticipate into market once support levels at 2520 and RM2500 or resistance level at RM2546 and RM2594 regions.