FKLI Daily Commentary for 22nd July 2010

FKLI July Futures contract traded 7.5 points higher to close at 1344.5 levels as compare to previous trading session to with a total of 4,679 lots traded in the market. FKLI was traded wild yesterday as it opened higher before plunge lower despite most of the regional indices were traded higher but manage to recover more profit before end of trading sessions.
FKLI challenge next resistance levels at 1347.5; 78.6% and 100% Fibonacci resistance levels, before plunge lower towards support levels at 1340 regions and rebound 78.6% Fibonacci figure at 1345.5 before end of trading sessions. Technically, FKLI seems possible to temporary topped provided resistance levels at 1352.5 and 1360 were not violated in the coming trading sessions while support levels were seen at 1337 and 1331 regions.

FCPO Daily Commentary for 22nd July 2010

FCPO 3rd month Oct futures contract rose RM35 higher to close at RM2459 levels as compare to previous trading sessions with a total of 9,827 lots traded in the market. FCPO price traded higher during trading sessions as soybean oil and crude oil were traded higher during electronic trading sessions.
FCPO price manage to penetrate previous higher at RM2461 to reach RM2468; 100% Fibonacci resistance levels, before settled at RM2459 before of trading sessions. Technically, FCPO price temporary holding well above support levels at RM2435 and RM2424 regions. However, its crucial that FCPO price must not trading below support level in order not to trigger massive liquidation in the market. Resistance levels were seen at RM2462 and RM2514; both are 61.8% and 78.6% Fibonacci resistance levels.

FCPO Daily Commentary for 21st July 2010

FCPO 3rd month Oct futures contract traded RM30 lower to close at RM2424 levels as compare to previous trading sessions with a total of 11,235 lots traded in the market. FCPO price plunge lower after long consolidation on higher side despite crude oil and soybean oil were still trading higher during trading sessions.
FCPO price attempt to penetrate previous high at RM2461 regions failed despite a series of attempts to penetrate resistance levels at RM2455; 78.6% Fibonacci resistance levels before FCPO price plunge lower to find support around RM2420 regions. Technically, FCPO price seems retrace lower after 7-day consecutive rally towards higher trading territory where resistance levels seen at RM2462 and RM2514; 61.8% and 78.6% Fibonacci resistance levels while support levels seen at RM2417 and RM2387 regions.

FKLI Daily Commentary for 21st July 2010

FKLI July Futures contract traded 3 points lower to close at 1337 levels as compare to previous trading session to with a total of 4,733 lots traded in the market. FKLI fall lower after manage to challenge higher territory in the early trading sessions due to firm regional indices trading.
FKLI tested resistance levels at 1344.5; 78.6% Fibonacci resistance levels, before traded lower to find support at 1337, 61.8% Fibonacci support levels in the hourly price chart. Technically, FKLI was expected to have 1 more thrust trading higher where next nearest resistance levels were seen at 1347.5 and 1352.5. Support levels were seen at 1337 and 1332.5 regions.

FCPO Daily Commentary for 20th July 2010

FCPO 3rd month Oct futures contract traded RM6 higher to close at RM2455 levels as compare to previous trading sessions with a total of 7,771 lots traded in the market. FCPO price consolidate during the entire trading sessions without much influence by soybean oil and crude oil electronic trading during the trading sessions.
FCPO price traded lower and found support levels at RM2430 regions before manage to rebound towards RM2455 regions; 78.6% Fibonacci resistance levels. Technically, FCPO price yet to penetrate resistance levels at RM2462 regions; 61.8% Fibonacci resistance levels, in the daily price chart. Failure to trade above resistance levels at RM2462 and RM2514; both are 61.8% and 78.6% Fibonacci resistance levels shall suggest FCPO price trading fall back into correction phase while support levels should be guarded around RM2430 and RM2400 regions.

FKLI Daily Commentary for 20th July 2010

FKLI July Futures contract fall marginally 0.5 points lower to close at 1340 levels as compare to previous trading session to with a total of 5,102 lots traded in the market. FKLI recovered from losses after opened lower for trading but manage to recover before end of trading sessions as Europe indices positive signs to trade higher.
FKLI traded to trade higher during trading sessions towards 1340; 78.6% Fibonacci resistance levels manage to penetrate previous low levels at 1333 regions. Technically, FKLI seems still within correction phase although these corrections count seems misleading by many contracting element. However, FKLI resistance levels still remain at 1347 and 1360 regions while support levels remain at 1325 and 1315 regions.