FCPO Daily Commentary for 19th Apr 2010

FCPO 3rd month July futures contract traded RM8 higher to close at RM2518 levels as compare to previous trading sessions with a total of 4,764 lots traded in the market. FCPO price was traded higher during trading session despite was opened lower during trading sessions as crude oil and soybean oil were recovering during electronic trading.
FCPO price still maintain above RM2500 in the hourly continuous chart despite price were traded below the parabolic arc formation. Technically, FCPO price still view as trading within sideway mode where supports were seen at RM2500 and RM2483 regions while resistance levels were seen at RM2530 and RM2557 regions. Huge price movement would anticipate once FCPO traded price were traded beyond the sideways range.