FCPO Daily Commentary for 23rd Apr 2010

FCPO 3rd month July futures contract traded RM19 higher to close at RM2490 levels as compare to previous trading sessions with a total of 6,999 lots traded in the market. FCPO price were traded higher during trading sessions as crude oil and soybean oil were traded higher during electronic trading sessions despite overnight trading were traded weak.
FCPO price attempt to test resistance levels at RM2500 again before end of trading session after FCPO traded price seems support above support levels at RM2470 regions. Technically, FCPO price was traded in critical zone as attempt to penetrate resistance levels at RM2500 and RM2525 would jeopardize whole bearish structure in the wave count. Resistance levels at RM2510 and RM2525 must not be violated in order for bear trend to remain intact. However, support levels at RM2470 and RM2440 must be penetrate in the coming trading sessions in order for bear trend to remain intact.

FKLI Daily Commentary for 23rd Apr 2010

FKLI Apr Futures contract rose 8 points higher to close at 1342 levels as compare to previous trading session to with a total of 4,802 lots traded in the market. FKLI traded higher despite was opened lower for trading while most of the regional indices and Dow Jones futures electronic trading were traded lower during trading sessions.
FKLI support above 61.8% Fibonacci support levels at 1328 regions and manage to surge higher in the latter trading sessions towards resistance trend line at 1340 regions. Technically, FKLI seems affirm to complete correction wave 2 at 1328 regions provided resistance levels at 1344.5 and 1350.5 were violated in the coming trading sessions. However, support levels at 1333 and 1327.5; both are 61.8% and 100% Fibonacci support levels, must not be violated in the coming trading sessions.

FCPO Daily Commentary for 22nd Apr 2010

FCPO July Futures contract traded RM27 lower as compare to previous trading sessions to close at RM2471 with a total of 8,058 lots traded in the market. FCPO price were traded lower despite soybean oil and crude oil were traded higher during overnight and electronic trading. FCPO price traded lower mostly is due to strengthen on Ringgit against Dollar which directly effect FCPO demand.
FCPO price manage to rebound up to RM2500 levels at 61.8% Fibonacci resistance levels before start to plunge south during trading sessions. Technically, FCPO price seems likely to underway wave 5 count south where nearest support levels were seen at RM2450 and RM2520 regions; both are 50% and 78.6% Fibonacci support levels, while resistance levels were seen at RM2500 and RM2525 regions.

FKLI Daily Commentary for 22nd Apr 2010

FKLI April Futures contract was traded 2 points lower as compare to previous trading session to close at 1334 levels with a total of 3,763 lots traded in the market. FKLI traded lower despite opened higher since open for trading as Dow Jones futures electronic trading and regional indices trading fall back due to some profit taking activity.
FKLI failed to penetrate previous resistance trend line in the hour price chart where resistance were anticipate at 1343.5, 78.6% Fibonacci resistances before starts to retrace lower towards 38.2% Fibonacci support levels. Technically, FKLI seem possible to trade higher in the coming trading sessions provided support levels at 1328 and 1322 were not violated in the coming trading sessions while resistance levels were seen at 1344.5 and 1350.50.

FCPO Daily Commentary for 21st Apr 2010

FCPO 3rd month July futures contract traded RM28 higher to close at RM2498 levels as compare to previous trading sessions with a total of 9,949 lots traded in the market. FCPO price traded higher as soybean oil and crude oil electronic trading were traded higher despite commodity price were trade lower during overnight trading.
FCPO price were traded higher to meet 61.8% Fibonacci resistance levels at RM2499 regions after pull back and well support above support levels at RM2462; 78.6% Fibonacci support levels. Technically, FCPO price seems executing rebound wave 4 where resistance levels seen at RM2500 and RM2525 regions must not be violated in the coming trading sessions. However, FCPO price would expect trading south riding on wave 5 where nearest support levels seen at RM2480 and RM2460 regions.

FKLI Daily Commentary for 21st Apr 2010

FKLI Apr Futures contract plunge 14.5 points higher to close at 1336.5 levels as compare to previous trading session to with a total of 4,633 lots traded in the market. FKLI traded higher as Dow Jones and regional indices were traded higher during trading sessions despite Dow Jones futures electronic trading was traded lower in the previous trading sessions.
FKLI traded higher since open for trading after previous resistance levels at 1326 and 1329.5; 50% and 61.8% Fibonacci resistance levels. Technically, FKLI surge up higher and stopped at 38.1%, 61.8% and 250% Fibonacci resistance levels after retrace 50% Fibonacci support levels at 1322 regions. However, it’s crucial that FKLI traded price above resistance levels at 1341 and 1347 in order for recent uptrend to resume affirm while support levels at 1322 and 1319 must no be violated in the coming trading sessions.

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FKLI and FCPO Daily Commentary for 20th Apr 2010

FKLI Apr Futures contract plunge 14 points lower to close at 1322 levels as compare to previous trading session to with a total of 5,808 lots traded in the market. FKLI traded lower since open for trading as news release on Goldman Sach being inquiry by SEC regarding on the subprime matter. Regional indices and Dow Jones futures electronic trading were traded lower during trading sessions.

FKLI continue trading south after manage to break below previous support levels at 1333.5 in previous trading days and manage to meet support levels 1320 regions; 50%, 178.6% and 100% Fibonacci support levels. Technically, FKLI seems temporary supported above 1320 support regions to complete wave 4 and attempt to penetrate higher in the 2nd trading sessions to begin wave 5 but failed. Hence, FKLI retrace 50% Fibonacci support levels at 1322 upon closing. Support levels for FKLI trading seen at 1320 and 1313 regions while resistance levels seen at 1326 and 1336 regions.



FCPO 3rd month July futures contract traded RM48 lower to close at RM2470 levels as compare to previous trading sessions with a total of 9,266 lots traded in the market. FCPO price was traded lower as soybean oil and crude oil were trade lower either it’s overnight or electronic trading.

FCPO price penetrate previous support level RM2500 and headed south during trading sessions but soon consolidate and retrace 78.6% Fibonacci support levels at RM2462 regions. Technically, FCPO price complete minor wave 3 at RM2455 regions, 161.8% Fibonacci support levels and attempt to begin wave 4 where support levels were seen at RM2462 and RM2440; 150% and 200% Fibonacci support levels. Resistance levels were seen at RM2499 and RM2510; both were 61.8% and 78.6% Fibonacci resistance levels.

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.

FKLI Daily Commentary for 19th Apr 2010

FKLI Apr Futures contract traded 5 points lower to close at 1336 levels as compare to previous trading session to with a total of 4,364 lots traded in the market. FKLI traded lower during trading sessions after opened higher as regional indices and Dow Jones futures electronic trading were traded lower during trading sessions.
FKLI plunge lower after rebound 78.6% Fibonacci resistance levels at 1344.5 regions before complete at 123.6% Fibonacci support levels at 1330.5 regions. Technically, FKLI seems almost complete wave C correction wave with assumption resistance levels at 1339 and 1344.5; both are 61.8% and 100% Fibonacci resistance levels, were not violated during trading sessions. However, FKLI seems supported around 1327.5 and 1313.5 regions, both were 38.2% and 61.8% Fibonacci support level, as FKLI still view as riding on long term bull trend.