picture

FCPO Daily Commentary for 16th Apr 2010

FCPO June Futures contract traded RM8 lower as compare to previous trading sessions to close at RM2520 with a total of 5,569 lots traded in the market. FCPO price was mainly trading within tight range from RM2515 to RM2530 regions as contradicting fundamentals support difference market direction during trading sessions; soybean oil and crude oil were traded higher while ITS and SGS figure shows lack of demand on CPO production.
FCPO price penetrate support trend line in the hourly price chart at RM2524 region before market manage to rebound 38.1% Fibonacci resistance levels at RM2530 regions. Technically, FCPO price trading was yet to reveal any trending trading as it’s still trading within range from RM2500 to RM2550 regions. However, FCPO price would anticipate into greater price movement provided traded price manage to penetrate support levels at RM2500 and RM2483 regions while resistance levels were seen at RM2535 and RM2557 regions.

FKLI Daily Commentary for 16th Apr 2010

FKLI April Futures contract was traded 1 point lower as compare to previous trading session to close at 1341 levels with a total of 4,655 lots traded in the market. FKLI opened higher in the morning trading sessions as Dow Jones were traded firm during overnight trading but retrace in latter sessions as regional indices were mostly profit taking during trading sessions.
FKLI penetrate resistance levels at 1346 regions but retrace soon after reach high at 1347.5 regions towards 78.6% Fibonacci support levels at 1336.5 regions. Technically, FKLI still is trading within a symmetric triangle formation in the hourly price chart where support levels at 1333.5 and 1329 must not be violated in order for uptrend to resume. Resistance levels were seen at 1344 and 1350.5, both were 61.8% and 100% Fibonacci resistance levels.

picture

picture

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.

FKLI Daily Commentary for 15th Apr 2010

FKLI April Futures contract was traded 8 point higher as compare to previous trading session to close at 1342 levels with a total of 5,043 lots traded in the market. FKLI was traded sideways during entire trading session as regional indices were traded mix while Dow Jones Futures electronic trading were trading higher.
FKLI tested resistance levels at 1346, 78.6% Fibonacci resistance levels before retrace lower to meet support levels at 1340, 50% Fibonacci support levels in the hourly price chart. Technically, FKLI would further affirm bullish provided resistance levels at 1346 and 1350.5 were violated in the coming trading sessions. However, FKLI were still yet to be bearish provided support levels at 1336 and 1329 failed to hold FKLI traded price above support levels.

picture

FCPO Daily Commentary for 14th Apr 2010

FCPO 3rd month June futures contract traded RM1 lower to close at RM2534 levels as compare to previous trading sessions with a total of 7,032 lots traded in the market. FCPO price was traded sideways despite crude oil and soybean oil overnight trading and electronic trading were traded weak.
FCPO price traded below previous support levels at RM2520, 78.6% Fibonacci support levels before rebound higher towards RM2540 regions. Technically, FCPO price traded sideways within RM2600 and RM2500 range formed a round bottom as shown in the hourly price chart with parabolic arc drawing. However, FCPO price would trigger some bullish activity once traded price above resistance levels at RM2560 and RM2606 regions while bearish market if support levels at RM2520 and RM2500 regions fails to hold against the selling pressure.

FKLI Daily Commentary for 14th Apr 2010

FKLI Apr Futures contract traded 12 point lower to close at 1334 levels as compare to previous trading session to with a total of 4,898 lots traded in the market. FKLI traded lower during trading sessions as regional indices were traded lower during trading sessions while Dow Jones futures electronic trading were traded lower during trading sessions.
FKLI failed in attempt penetrate resistance levels at 1346 before search for lower support at 1333.5, 78.6% Fibonacci support level. Technically, FKLI seems temporary holding above 1333.5 and 1329 support level; both are 78.6% and 100% Fibonacci support levels in the hourly price chart. However, FKLI must penetrate resistance levels at 1346 and 1350.5 in order for uptrend to resume.

FCPO Daily Commentary for 13th Apr 2010

FCPO June Futures contract traded RM59 lower as compare to previous trading sessions to close at RM2535 with a total of 7,617 lots traded in the market. FCPO price opened lower as last Friday settlement was set too while export figure shows another opinion on CPO demand.
FCPO price was traded lower near to 78.6% Fibonacci support levels at RM2518 regions after last week settlement at RM2594 regions. Technically, FCPO price would suggest sideways trading or possible reverse uptrend since previous resistance level at RM2555 and RM2580 were overshadowing by last week settlement, unless it’s consider as a false break, while support levels seen at RM2518 and RM2495 regions. FCPO price critical resistance levels were seen at RM2571 and RM2606.

FKLI Daily Commentary for 13th Apr 2010

FKLI April Futures contract was traded 6 point higher as compare to previous trading session to close at 1346 levels with a total of 3,677 lots traded in the market. FKL was traded higher during trading sessions as Dow Jones were settle higher during last trading sessions despite regional indices were traded mix during trading sessions.
FKLI retest resistance levels at 1349 regions before consolidate, formed at flag formation in the hourly price chart. Technically, FKLI would encounter great selling activity around resistance levels at 1350 and 1353.5 regions in effort to climb higher during trading sessions while support levels at 1338 and 1332.5 must not traded lower in the coming trading sessions in order to further confirm on upside trading.