FCPO Daily Commentary for 9th Aug 2010

FCPO August Futures contract traded RM42 higher as compare to previous trading sessions to close at RM2661 with a total of 10,188 lots traded in the market. FCPO price continue to trade higher; following tightly on soybean oil electronic trading despite crude oil was traded lower before end of trading sessions.
FCPO price continue to surge higher in attempt to test psychology resistance levels at RM2700 region during the trading sessions. Technically, FCPO price still seen riding on a bull rally provided support levels at RM2633 and RM2600 were not violated in the coming trading sessions while resistance seen at RM2722 and RM2750 regions.