tag:blogger.com,1999:blog-4509967126052569212024-03-14T21:43:58.512+08:00motintinmotintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.comBlogger1904125tag:blogger.com,1999:blog-450996712605256921.post-58357996886690450052010-08-24T18:47:00.001+08:002010-08-24T18:49:47.275+08:00FCPO Daily Commentary for 25th Aug 2010<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjtC6G9ibKLTqTZWT8BF-lSCxUY5mClTh9du0CghT8D3p2SRzgRqBl-oKfYWV-F3BmsuXiqA6tOVX4IwFhuEek-V6tHPVloaWekh57mhGmICWRAjRdztkb9KQEin0R2UVNT8tAxf6OjIzNm/s1600/FCPO250810.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 297px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjtC6G9ibKLTqTZWT8BF-lSCxUY5mClTh9du0CghT8D3p2SRzgRqBl-oKfYWV-F3BmsuXiqA6tOVX4IwFhuEek-V6tHPVloaWekh57mhGmICWRAjRdztkb9KQEin0R2UVNT8tAxf6OjIzNm/s400/FCPO250810.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5508926660625219362" /></a><br />FCPO 3rd month Nov futures contract traded RM50 lower to close at RM2510 levels as compare to previous trading sessions with a total of 17,235 lots traded in the market. FCPO price opened almost unchanged as compare to previous settlement price and plunge lower during trading sessions as soybean oil and crude oil electronic trading were traded weak.<br />FCPO price traded lower after attempt to penetrate previous high at RM2569 failed while FCPO price fails to hold above previous support levels at RM2540 regions. Technically, FCPO price seems temporary supported on RM2503 support levels; 50% Fibonacci support levels, in the hourly price chart. Failure to hold FCPO traded price above support levels at RM2502 and RM2448 shall indicates further selling pressure. Resistance levels seen at RM2550 and RM2570 regions.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com2tag:blogger.com,1999:blog-450996712605256921.post-35823449581503176802010-08-24T18:45:00.001+08:002010-08-24T18:47:30.884+08:00FKLI Daily Commentary for 25th Aug 2010<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgO0yYACNlXXMnvMLGPfQodg17sWmAM0ec2MaJZ3PzrTrBVUoM4MfrRSC7EbuEjCRdw-FAkQbvfXRxg2pH5cpjAOi3O0owb_lxvACRiSh0tS5f-hbEjRfwhaTaTHBuHkJOmvaU04zV2frZp/s1600/FKLI250810.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 297px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgO0yYACNlXXMnvMLGPfQodg17sWmAM0ec2MaJZ3PzrTrBVUoM4MfrRSC7EbuEjCRdw-FAkQbvfXRxg2pH5cpjAOi3O0owb_lxvACRiSh0tS5f-hbEjRfwhaTaTHBuHkJOmvaU04zV2frZp/s400/FKLI250810.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5508926185420732946" /></a><br />FKLI Aug Futures contract traded 2.0 points lower to close at 1399.0 levels as compare to previous trading session to with a total of 5,108 lots traded in the market. Wild trading day for FKLI price trading as FKLI open lower for trading and soon reach new height before plunge lower towards day low as regional indices sudden turn towards south during 2nd trading sessions. <br />FKLI price seems supported above previous support levels at 1396 region before manage to surge higher towards 1403; at 38.2% Fibonacci resistance levels; in the hourly price. However, FKLI price seems falling towards day low to reach 1394 before settle at 1399; 61.8% Fibonacci rebound resistance levels. Technically, FKLI price seems likely to undergo some correction phase where next nearest support levels seen at 1390 and 1383.5 regions. Failure to hold FKLI traded price above support levels shall further indicates more selling pressure. However, resistance levels seen at 1403 and 1417 regions.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com6tag:blogger.com,1999:blog-450996712605256921.post-11034907193879365562010-08-23T09:58:00.000+08:002010-08-23T09:59:02.370+08:00Crude Oil Declines to Six-Week Low Amid Signs U.S. Recovery Is FalteringCrude oil traded little changed near a six-week low as forecasts that U.S. home sales probably plunged in July added to concerns the economic recovery in the biggest oil-consuming nation is faltering.<br /><br />Purchases of new and existing houses dropped 12 percent to a 5.01 million annual pace, the lowest since March 2009, according to the median forecast of 54 economists surveyed by Bloomberg News. Oil slipped 1.3 percent on Aug. 20, a day after the Labor Department said weekly claims for unemployment benefits climbed to the highest level since November.<br /><br />“Concerns over U.S. growth weighed on oil demand sentiment,” Mark Pervan, head of commodity research at Australia and New Zealand Banking Group Ltd. in Melbourne, said in a note. “Concerns over the U.S. economy also revived risk aversion, which firmed the U.S. dollar and weakened the euro.”<br /><br />Crude oil for October delivery was at $73.87 a barrel, up 5 cents, in electronic trading on the New York Mercantile Exchange at 9:27 a.m. Sydney time. The September contract fell 97 cents to $73.46 on Aug. 20, when it expired. Futures dropped 2.6 percent last week.<br /><br />The dollar traded at $1.2691 a euro at 9:28 a.m. Sydney time, from $1.2712 on Aug. 20. A stronger U.S. currency limits the need of investors for commodities to hedge against inflation.<br /><br />Brent crude for October settlement traded at $74.41 a barrel, up 15 cents, on the London-based ICE Futures Europe Exchange at 8:38 a.m. Sydney time. The contract dropped $1.04, or 1.4 percent, to $74.26 on Aug. 20.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-73155994076505071802010-08-23T08:30:00.002+08:002010-08-23T08:31:15.085+08:00FCPO Daily Commentary for 23th Aug 2010<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgi8ktY5vN__cSwMDaPk4wrL_SeABLheDnBOKUECLT6WB4bx82TmPsK3ANtzLcgoTbXSoztaNRK6o4Hi8x971FY-NUX-RWT2m0THdDkfJTxRklmZQvuJXpQXyEF1B7Hdf8z1we6VxWCcoET/s1600/FCPO230810.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 298px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgi8ktY5vN__cSwMDaPk4wrL_SeABLheDnBOKUECLT6WB4bx82TmPsK3ANtzLcgoTbXSoztaNRK6o4Hi8x971FY-NUX-RWT2m0THdDkfJTxRklmZQvuJXpQXyEF1B7Hdf8z1we6VxWCcoET/s400/FCPO230810.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5508396349889410018" /></a><br />FCPO 3rd month Nov futures contract traded RM51 lower to close at RM2544 levels as compare to previous trading sessions with a total of 11,548 lots traded in the market. FCPO price opened lower for trading as soybean oil and crude oil were settle lower during overnight trading but FCPO price soon consolidate within price range during trading sessions. <br />FCPO price was trading above support levels at RM2543; 61.8% Fibonacci support levels, in the hourly price chart before attempt to penetrate day high at RM2461 regions. Technically, FCPO price seems temporary supported around at RM2543 regions but yet any sign of reversal appear in the hourly price chart after 5 – day consecutive south trading. Next nearest support levels would be seen at RM2517 and RM2491 while resistance levels seen at RM2560 and RM2604 regions.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-50860238421520638642010-08-23T08:29:00.000+08:002010-08-23T08:30:37.688+08:00FKLI Daily Commentary for 23th Aug 2010<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhO49uNelSYy_aO1a55xpvn9G7M8Dki7ZgJxGi6ly2x5ImGPDMRPMJ1TWhkpgmIpA2srnzSQcsp2T0Kk7GVm7raytXJDZw-OShOmAeCCXlPeM9wnuOVtIiN628N9x-3F64DBEUAD9nvyDGK/s1600/FKLI230810.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 298px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhO49uNelSYy_aO1a55xpvn9G7M8Dki7ZgJxGi6ly2x5ImGPDMRPMJ1TWhkpgmIpA2srnzSQcsp2T0Kk7GVm7raytXJDZw-OShOmAeCCXlPeM9wnuOVtIiN628N9x-3F64DBEUAD9nvyDGK/s400/FKLI230810.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5508396173009088818" /></a><br />FKLI Aug Futures contract traded 1.0 points higher to close at 1390.0 levels as compare to previous trading session to with a total of 4,480 lots traded in the market. FKLI price opened lower for trading as Dow Jones overnight settlement was traded lower while regional indices traded lower in the earlier trading sessions but FKLI soon manage to recover towards north to recover from losing ground. <br />FKLI price manage to rest on support levels at 1384; 61.8% Fibonacci support levels, in the hourly chart before manage to rebound to test resistance levels at 1393, 78.6% Fibonacci resistance level. Technically, FKLI was expected to trade higher in the coming trading sessions provided support levels at 1384 and 1378 were not violated in the coming trading sessions. However, FKLI must overcome resistance levels at 1397 and 1412 in order for the rally to continue trading higher.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-80635567756942617822010-08-20T10:24:00.001+08:002010-08-20T10:24:27.832+08:00Oil Trades Near 6-Week Low as U.S. Jobless Claims Prompt Recovery ConcernsCrude oil traded little changed near a six-week low after falling as increased U.S. jobless claims and a contraction in manufacturing added to concern the economic rebound in the world’s biggest oil-consuming country is slowing.<br /><br />Oil, which is down 1.3 percent for the week, fell yesterday after the Labor Department said initial jobless claims rose to the highest level since November. The Federal Reserve Bank of Philadelphia’s general economic index dropped to the lowest reading since July 2009. Total U.S. petroleum inventories are the highest in at least 20 years, Energy Department figures show.<br /><br />“Sentiment and the fundamental news at the moment is still quite bearish, and I think that will weigh on the market and probably see prices lower,” said Jonathan Barratt, managing director at Commodity Broking Services Pty in Sydney. “I think $70 to $68 is on the cards.”<br /><br />Crude oil for September delivery was at $74.37 a barrel, down 6 cents, in electronic trading on the New York Mercantile Exchange at 10:06 a.m. Sydney time. Yesterday, the contract fell 99 cents, or 1.3 percent, to $74.43, the lowest settlement price since July 7. Futures are up 2.6 percent from a year ago.<br /><br />Initial jobless claims rose by 12,000 to 500,000 in the week ended Aug. 14, U.S. Labor Department figures showed. Claims exceeded all estimates of economists surveyed and compared with the median forecast of 478,000.<br /><br />Brent crude oil for October settlement was little changed at $75.21 a barrel on the ICE Futures Europe Exchange in London at 10:05 a.m. Sydney time. It slipped $1.17, or 1.5 percent, to end the session at $75.30 a barrel yesterday.<br /><br />Equities Decline<br /><br />“U.S. stocks tumbled on the back of weaker-than-expected economic data, with unemployment claims unexpectedly jumping to the highest level in 9 months and the Philadelphia Fed survey showed manufacturing had shrunk,” Ben Potter, a market strategist at IG Markets in Melbourne, said in an e-mailed note.<br /><br />The Federal Reserve Bank of Philadelphia’s general economic index fell to minus 7.7 this month. Negative readings signal contraction in the area covering eastern Pennsylvania, southern New Jersey and Delaware. Economists forecast the measure would rise to 7, according to the median of 58 projections in a Bloomberg News survey.<br /><br />The Standard & Poor’s 500 Index declined 1.7 percent in New York, and the Dow Jones Industrial Average dropped 1.4 percent. The dollar climbed yesterday, reducing the appeal of commodities as an investment.<br /><br />A U.S. Energy Department report on Aug. 18 showed that total petroleum stockpiles climbed 5.34 million barrels to 1.13 billion in the week ended Aug. 13, the highest level since at least 1990. Supplies of crude oil fell 818,000 barrels to 354.2 million barrels, according to the Energy Department report. Gasoline stockpiles dropped 39,000 barrels to 223.3 million.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-64488558359926904982010-08-20T10:15:00.001+08:002010-08-20T10:15:35.498+08:00Gold Rises to Seven-Week High as U.S. Unemployment Spurs Demand for HavenGold futures rose to a seven-week high after a U.S. report showed an unexpected jump in initial jobless claims, adding to concern that the economy is slowing and boosting demand for bullion as a haven.<br /><br />Claims rose by 12,000 to 500,000 in the week ended Aug. 14, the Labor Department said today. That exceeded all estimates of economists surveyed by Bloomberg News. Before today, gold climbed 12 percent this year, outperforming equities, on signs that global growth may be losing momentum.<br /><br />“There’s tremendous uncertainty and the recovery is spotty,” Caesar Bryan, who manages $609 million in the GAMCO Gold Fund Inc., said today in a Bloomberg Television interview in New York. Gold “is in a multiyear bull market. Prices are going to go up.”<br /><br />Gold futures for December delivery rose $4.60, or 0.4 percent, to $1,236 an ounce at 9:50 a.m. on the Comex in New York, after touching $1,236.80, the highest price for a most- active contract since July 1.<br /><br />“Concerns about a slowing economy in the second half still prevail, supporting the safe-haven asset,” Lee Suk Jin, a commodities analyst with Seoul-based Tong Yang Securities Inc., wrote in a report today. “In the short term, gold may continue to be propped up by demand from investors trying to avoid risky assets due to uncertainties in the markets.”<br /><br />Before today, gold futures gained 5.9 percent in the previous three weeks as concern deepened that the global recovery may falter.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-64439035290527361012010-08-20T08:33:00.002+08:002010-08-20T08:33:45.500+08:00FCPO Daily Commentary for 20th Aug 2010<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgvtOfohcCCby8O_fGniYINhBQlBHT4AOliJ2SxAb6m1QdxO82ZqBzaH45qYGA8PopMRdbw0FxmeMyHAWna1O4DEe7RgzzlWoHKU_RDWj9iLxBQKUJ-zlH6sexumxLkcpRKHQ7FDnfCM0m7/s1600/FCPO200810.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 298px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgvtOfohcCCby8O_fGniYINhBQlBHT4AOliJ2SxAb6m1QdxO82ZqBzaH45qYGA8PopMRdbw0FxmeMyHAWna1O4DEe7RgzzlWoHKU_RDWj9iLxBQKUJ-zlH6sexumxLkcpRKHQ7FDnfCM0m7/s400/FCPO200810.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5507283733291005554" /></a><br />FCPO 3rd month Nov futures contract traded RM15 lower to close at RM2595 levels as compare to previous trading sessions with a total of 13,658 lots traded in the market. FCPO price opened lower trading as soybean oil and crude oil traded lower during overnight trading but FCPO soon manage to recover from losses as soybean oil and crude oil electronic trading were traded higher during trading sessions. <br />FCPO price manage to reach support levels at RM2570; 200% Fibonacci support levels, in the hourly price chart while RM2580 also seen as another support levels which indirect forms a support range for FCPO price trading. Technically, FCPO price seem manage to rebound 61.8% Fibonacci resistance levels at RM2604 upon complete on rebound wave count where next nearest support levels were expected around RM2571 and RM2556 in the coming trading sessions. However, FCPO price must not be trading over resistance levels at RM2604 and RM2632 in order for correction wave to remain intact.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-51125333406986459462010-08-20T08:32:00.002+08:002010-08-20T08:33:12.917+08:00FKLI Daily Commentary for 20th Aug 2010<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgOA-Q1Qe6idKrc-yP3vzGt2Zu8AsaKdkhMEhSLSRX3O750esYvQoFA3K8xv6H9CzMbD-szz9T8BXVva0iUdf_xKN0JVzKR0G_tCfVeEzB07BncssMDf1hj5Tl5yqxX9nawgpgMNTRsyd5i/s1600/FKLI200810.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 298px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgOA-Q1Qe6idKrc-yP3vzGt2Zu8AsaKdkhMEhSLSRX3O750esYvQoFA3K8xv6H9CzMbD-szz9T8BXVva0iUdf_xKN0JVzKR0G_tCfVeEzB07BncssMDf1hj5Tl5yqxX9nawgpgMNTRsyd5i/s400/FKLI200810.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5507283580229248850" /></a><br />FKLI Aug Futures contract traded 3.5 points higher to close at 1389.0 levels as compare to previous trading session to with a total of 6,964 lots traded in the market. FKLI opened higher for trading as regional indices were traded higher during earlier trading sessions but profit taking soon come into picture after FKLI were traded almost 10 points higher as compare to pervious trading sessions. <br />FKLI price surge higher after found support levels at 1377; 78.6% Fibonacci support level, in the preiovus trading sessions before FKLI was traded higher to reach high at 1395.5; 161.8% Fibonacci resistance level, in the hourly price chart. Technically, FKLI seems undergoing minor correction wave 4 where critical support levels at 1384 and 1377; 61.8% and 100% Fibonacci support level, were not violated in the coming trading sessions. However, FKLI must be capable to overcome resistance levels at 1395.5 and 1400 in order further affirm uptrend remain strong to thrust higher in the coming trading sessions.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-58791514105981567642010-08-17T10:00:00.000+08:002010-08-17T10:11:08.795+08:00Crude Oil Trades Near Five-Week Low on Signs Economic Growth Is FalteringCrude oil traded near a five-week low after Asian equities declined, New York manufacturers’ orders fell and U.S. homebuilders turned more pessimistic, increasing concern that global economic growth is faltering.<br /><br />Oil dropped for a fifth day yesterday, the worst run of losses in more than a month, after economic growth in Japan missed expectations. The Federal Reserve Bank of New York reported that orders and sales dropped in August for the first time in more than a year.<br /><br />“The market is still concerned about weakness in the global economy,” said Ken Hasegawa, commodity-derivatives sales manager at brokerage Newedge in Tokyo.<br /><br />Crude for September delivery was at $75.33 a barrel, up 9 cents, at 9:25 a.m. in Singapore on the New York Mercantile Exchange. Yesterday, the contract fell 15 cents to settle at $75.24 a barrel, the lowest level since July 12. Futures have dropped 5.1 percent this year.<br /><br />The Federal Reserve Bank of New York’s so-called Empire State factory index showed that bookings dropped for the first time since June 2009, while sales fell at the fastest pace since March 2009. The National Association of Home Builders/Wells Fargo confidence index unexpectedly declined to a 17-month low.<br /><br />The Nikkei 225 weakened as much as 1.2 percent to 9,084.24 in Tokyo, dropping for a second day. The broader Topix index retreated as much as 1 percent.<br /><br />Homebuilder Confidence<br /><br />U.S. equities were mixed. The Standard & Poor’s 500 Index rose less than 0.1 percent to 1,079.38 as of 4 p.m. in New York, and the Dow Jones Industrial Average dropped 1.14 points to 10,302.01.<br /><br />The National Association of Home Builders/Wells Fargo confidence index dropped to 13 this month, the lowest level since March 2009, from 14 in July, the Washington-based group said yesterday. Economists forecast a reading of 15, according to the median estimate in a Bloomberg survey. Readings of less than 50 mean that more respondents said conditions were poor.<br /><br />Federal Reserve policy makers last week announced their first attempt to bolster growth since March 2009.<br /><br />“If there is more weak data from U.S. economic indices in the rest of the week, the market may go down to around $72 a barrel,” said Newedge’s Hasegawa.<br /><br />Gross domestic product in Japan climbed an annualized 0.4 percent in the second quarter, the country’s Cabinet Office said yesterday, pushing the economy into third place behind the U.S. and China. The median estimate of 19 economists surveyed by Bloomberg News was for growth of 2.3 percent.<br /><br />Brent crude oil for October was at $75.66 a barrel, 1.1 percent higher on the London-based ICE Futures Europe Exchange. It rose 0.2 percent to settle at $75.63 yesterday. The September contract, which expired at the close yesterday, fell 26 cents, or 0.4 percent, to settle at $74.85 a barrel.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-85443747405454910202010-08-17T08:09:00.002+08:002010-08-17T08:09:44.117+08:00FCPO Daily Commentary for 17th Aug 2010<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiNscZLxBtz6KQmW1xMlXF7HIQGCMjIn19kDZ5tMRoRlCj9tUL5ouY0cNx5ClUW2S4wGFuLYh4NU0e_yoVCRC1Uu27fOnFQTLSNjnzbca5JlXb9VZ2UWH3D6bUVos96zkH8xKA1-nJ-qrEG/s1600/FCPO170810.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 298px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiNscZLxBtz6KQmW1xMlXF7HIQGCMjIn19kDZ5tMRoRlCj9tUL5ouY0cNx5ClUW2S4wGFuLYh4NU0e_yoVCRC1Uu27fOnFQTLSNjnzbca5JlXb9VZ2UWH3D6bUVos96zkH8xKA1-nJ-qrEG/s400/FCPO170810.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5506164286659158514" /></a><br />FCPO 3rd month Nov futures contract traded RM12 lower to close at RM2678 levels as compare to previous trading sessions with a total of 14,719 lots traded in the market. FCPO price settled lower after open higher for trading around RM2694 levels before starts to plunge lower before end of trading sessions as soybean oil and crude oil electronic trading were traded lower during trading sessions despite soybean oil was settled higher during overnight trading. <br />FCPO price plunge lower after attempt to penetrate resistance levels RM2730 and RM2700 failed during trading sessions. Technically, FCPO price seems would trade lower in the coming trading sessions after trading price manage to penetrate support trend line in the hourly price chart. Wave 4 count to likely complete correction phase around support levels at RM2637 and RM2613 regions provided resistance levels at RM2700 and RM2736 were not violated in the coming trading sessions.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-65599876640562241252010-08-17T08:08:00.002+08:002010-08-17T08:09:13.567+08:00FKLI Daily Commentary for 17th Aug 2010<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbQpXJkMiWAINreX-JQKjalSXpnul1col-dL0wb35O2eNatwvxpKUKPVdpFdNC-DEzg7iGvkUQCL0XTG6qYpg5INUKzOLafzxloFXYwjYB_1mKOjhRmSo758LZxV9ouPajnDdIMAnu4vcM/s1600/FKLI170810.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 298px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbQpXJkMiWAINreX-JQKjalSXpnul1col-dL0wb35O2eNatwvxpKUKPVdpFdNC-DEzg7iGvkUQCL0XTG6qYpg5INUKzOLafzxloFXYwjYB_1mKOjhRmSo758LZxV9ouPajnDdIMAnu4vcM/s400/FKLI170810.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5506164130568227618" /></a><br />FKLI Aug Futures contract traded 8.0 points higher to close at 1369.5 levels as compare to previous trading session to with a total of 5,028 lots traded in the market. FKLI opened lower for trading as regional indices and Dow Jones Futures were traded lower in the morning but soon manage to recover and traded higher as Shanghai Index were traded higher while Dow Jones Futures electronic trading turn green during trading sessions. <br />FKLI price continue to surge higher during trading sessions after reached support levels at 1355.5 regions; 38.2% Fibonacci support levels in the hourly price. Technically, FKLI continue to surge higher after wave 4 count to complete at 1355; 38.2% Fibonacci support levels before launch wave 5 where 1370 view as 61.8% Fibonacci resistance levels. FKLI would expected to trade higher in the coming trading sessions provided support levels at 1361 and 1355 levels were not violated during trading sessions while preferably traded price trading above resistance levels at 1370 and 1379 regions.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-1086051442530679562010-08-16T09:09:00.000+08:002010-08-16T09:10:14.104+08:00Crude Oil Rises From One-Month Low as U.S. Manufacturing May Have ExpandedCrude oil rose from a one-month low as traders increased bets that prices will rise and analysts predicted manufacturing in the U.S. may have expanded last month, spurring optimism over a recovery in fuel demand.<br /><br />U.S. factory production and housing starts probably rose in July, economists said before reports this week. Speculative long positions, or bets prices will rise, increased 8 percent in the week ended Aug. 10, according to the U.S. Commodity Futures Trading Commission.<br /><br />“Open positions increasing to the long side could add a dollar or two over the coming days,” said Peter McGuire, managing director at CWA Global Markets Pty in Sydney.<br /><br />Crude oil for September delivery rose as much as 39 cents, or 0.5 percent, to $75.78 a barrel on the New York Mercantile Exchange and was at $75.68 a barrel at 7:33 a.m. in Singapore. The contract fell 0.5 percent on Aug. 13 to settle at $75.39, the lowest price since July 12. Futures fell 6.6 percent for the week, the most since the period ended July 2.<br /><br />Oil declined last week as a lack of jobs prompted Americans to hold back on spending, according to Commerce Department figures. U.S. gasoline supplies also increased for the seventh week.<br /><br />Brent crude oil for September settlement fell 41 cents, or 0.5 percent, to $75.11 a barrel on the London-based ICE Futures Europe Exchange on Aug. 13.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-2208628529522170812010-08-13T09:10:00.002+08:002010-08-13T09:10:34.111+08:00FCPO Daily Commentary for 13th Aug 2010<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh37DYBl_jlADJPMLXVPMYyfB8o1vPHG-QBEB-6WApuM-69TCEL0ltrzC0mtXTtjVjwZiDQSHtaiEGL0Hing50bEOCq4Zjc8EVS5xfZt4CjH7Ul3asGoGVy-adyRHc7HKxrz0gaHKpA-94n/s1600/FCPO130810.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 298px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh37DYBl_jlADJPMLXVPMYyfB8o1vPHG-QBEB-6WApuM-69TCEL0ltrzC0mtXTtjVjwZiDQSHtaiEGL0Hing50bEOCq4Zjc8EVS5xfZt4CjH7Ul3asGoGVy-adyRHc7HKxrz0gaHKpA-94n/s400/FCPO130810.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5504695593266999666" /></a><br />FCPO 3rd month Oct futures contract traded RM4 lower to close at RM2673 levels as compare to previous trading sessions with a total of 10,891 lots traded in the market. FCPO price manage to recover partial losses from previous 2 – day sell rally as crude oil and soybean oil were traded lower during electronic trading sessions. <br />FCPO price manage to rebound towards RM2704 regions; 61.8% Fibonacci resistance levels, before to settle at RM2673; 61.8% Fibonacci support levels, in hourly trading price chart. Technically, FCPO price seems temporary topped around RM2704 resistance levels in attempt to test further support levels at RM2637 and RM2614; both are 50% and 61.8% Fibonacci support levels, for correction phase count. However, FCPO price must not trade above resistance levels at RM2704 and RM2736 in order for correction phase to remain intact.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-26031856740595915292010-08-13T09:06:00.001+08:002010-08-13T09:09:57.908+08:00FKLI Daily Commentary for 13th Aug 2010<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg8x0AV9XCcRr-j4GwiUgqETfiqjJqHliecGCwAis4ekNWv7AUAXapX-QAGKzTLgWj9OzKTjCKNcv2tXqL5fvGIGgeqUe-BR4rlv3bkO6XPlWKI1cYGIEerpph6v33oaEFm4FaEOTX4ZrCj/s1600/FKLI130810.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 298px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg8x0AV9XCcRr-j4GwiUgqETfiqjJqHliecGCwAis4ekNWv7AUAXapX-QAGKzTLgWj9OzKTjCKNcv2tXqL5fvGIGgeqUe-BR4rlv3bkO6XPlWKI1cYGIEerpph6v33oaEFm4FaEOTX4ZrCj/s400/FKLI130810.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5504695432910840354" /></a><br />FKLI Aug Futures contract traded 1.5 points lower to close at 1346.0 levels as compare to previous trading session to with a total of 7,734 lots traded in the market. FKLI opened lower for trading but manage to recover from losses soon as most of the regional indices were recovered during the 2nd trading sessions despite Dow Jones Futures electronic was still trading below green during trading sessions. <br />FKLI price was well holding above support levels at 1347.5; 278,6% Fibonacci support levels, before manage to rebound towards resistance levels at 1349 regions; 38.2% Fibonacci resistance level. Technically, FKLI price seems trading on minor wave 3 trading south provided resistance levels at 1356 and 1367 were not violated in the coming trading sessions. However, it’s essential for FKLI price to trade below support levels at 1342 and 1339 in order to further affirm on south trading direction.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-69358691418413211502010-08-13T09:00:00.001+08:002010-08-13T09:00:40.668+08:00Oil Rebounds After Slumping to One-Month Low on Higher U.S. Jobless ClaimsCrude oil rebounded from a one-month low and traded above $76 a barrel in New York after falling as U.S. applications for unemployment benefits rose.<br /><br />Oil, which has declined 5.7 percent this week, rose for the first time in four days. Futures fell the most in six weeks yesterday as initial jobless claims rose by 2,000 to 484,000 last week, the highest level since February.<br /><br />Crude oil for September delivery gained as much as 39 cents, or 0.5 percent, to $76.13 a barrel and was at $76.08 in electronic trading on the New York Mercantile Exchange at 9:19 a.m. Sydney time. Yesterday, the contract fell $2.28 to $75.74, the lowest settlement since July 12. Futures are up 8 percent from a year ago.<br /><br />Brent crude oil for September settlement fell $2.12, or 2.7 percent, to end the session at $75.52 a barrel on the London- based ICE Futures Europe Exchange yesterday. It was the lowest close since July 21.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-22467389591655248572010-08-12T09:08:00.002+08:002010-08-12T09:09:10.161+08:00FCPO Daily Commentary for 12th Aug 2010<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgV3fdcGy5uhg0Jrsk6Mh7ENmyLhV6QHprR9WTGZL8jm00ExClKaRZxuhlmyR5VUtI1_ENUNfwprxMlUPWHrQJppDM7XoLaNePShlVhWoPFFitvxzarZ4viMIPXWZkAsg9yOlUeuH08Uuw7/s1600/FCPO120810.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 298px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgV3fdcGy5uhg0Jrsk6Mh7ENmyLhV6QHprR9WTGZL8jm00ExClKaRZxuhlmyR5VUtI1_ENUNfwprxMlUPWHrQJppDM7XoLaNePShlVhWoPFFitvxzarZ4viMIPXWZkAsg9yOlUeuH08Uuw7/s400/FCPO120810.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5504324175291354322" /></a><br />FCPO 3rd month Oct futures contract traded RM6 higher to close at RM2676 levels as compare to previous trading sessions with a total of 7,932 lots traded in the market. FCPO price manage to recover from losing ground after opened and traded lower during early trading sessions due to weak soybean oil and crude oil electronic trading during the trading sessions. <br />FCPO price penetrate previous support levels at RM2668 to reach RM2652 levels before traded price submerge into consolidation phase from RM2660 to RM2680 regions. Technically, FCPO trading could temporary found support around RM2660 regions; 38.2% Fibonacci support levels while next nearest support levels seen at RM2637; 50% Fibonacci support levels, in the hourly price chart. However, FCPO trading price would encounter some selling pressure around resistance levels at RM2694 and RM2704; both are 50% and 61.8% Fibonacci resistance levelsmotintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-70565032350458267702010-08-12T09:08:00.001+08:002010-08-12T09:08:41.255+08:00FKLI Daily Commentary for 12th Aug 2010<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiWbuKrpLXxocS2twuVsSL6nb5fJrI4hNupUqawdcUn3xtlCCJuZC7025Jl3Mlwh_D9e_Ofe23t9PjlMp_R8HHETC1mL7sQ2b_hGA3WUy4oEIPrC3H66EG3umbyicxzmWH7swrxXziEUW6Q/s1600/FKLI120810.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 298px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiWbuKrpLXxocS2twuVsSL6nb5fJrI4hNupUqawdcUn3xtlCCJuZC7025Jl3Mlwh_D9e_Ofe23t9PjlMp_R8HHETC1mL7sQ2b_hGA3WUy4oEIPrC3H66EG3umbyicxzmWH7swrxXziEUW6Q/s400/FKLI120810.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5504324051268909330" /></a><br />FKLI Aug Futures contract traded 8.5 points lower to close at 1347.5 levels as compare to previous trading session to with a total of 6,237 lots traded in the market. FKLI opened lower for trading and continue trading lower during trading sessions as most of the regional indices were plunge lower with Nikkei index plunge more than 2%, Shanghai Index plunge 1.5% as the major leading indices.<br />FKLI plunge lower after long consolidation around 1351 to 1355 regions before trading lower towards next support levels at 1345 regions; 61.8% Fibonacci support levels. Technically, FKLI seems encounter some buying interest around support levels at 1345 and 1337 regions. FKLI would trigger further selling activities once support levels seem fails to hold trading price above support levels. On the contrary, FKLI trading price would encounter some degree of resistance around 1354 and 1362 regions.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-6015268316859488752010-08-11T09:17:00.001+08:002010-08-11T09:17:39.054+08:00Oil Trades Near Seven-Day Low as Productivity Drop Casts Doubt on RecoveryCrude oil was little changed near a seven-day low after the Labor Department reported the productivity of U.S. workers fell in the second quarter, a sign the economy is struggling to recover.<br /><br />Oil dropped 1.5 percent yesterday as the department said the U.S. lost momentum heading into the second year of the recovery from the recession. Crude pared its losses after Federal Reserve policy makers announced their first attempt to bolster growth since March 2009. Gasoline supplies rose last week, according to the American Petroleum Institute.<br /><br />“Sentiment in the U.S. is somewhat mixed,” said Mike Sander, an investment adviser at Sander Capital Advisors in Seattle. “I still think we’re in dire shape. For now, it looks like the markets might hold.”<br /><br />Crude oil for September delivery traded at $80.37 a barrel, up 12 cents, in electronic trading on the New York Mercantile Exchange at 9:18 Sydney time. Yesterday, the contract fell $1.23 to $80.25, the lowest price since July 30. Futures have climbed 16 percent in the past year.<br /><br />The Labor Department’s measure of employee output per hour decreased at a 0.9 percent annual rate, the first drop since the end of 2008. The median forecast of economists surveyed by Bloomberg News projected a 0.1 percent gain.<br /><br />The Fed decided to maintain its holdings of securities to prevent money from being drained out of the financial system and to keep the slowing U.S. economy from relapsing into recession. The central bank said it will reinvest principal payments on its mortgage holdings into long-term Treasury securities.<br /><br />Price Forecast<br /><br />The Energy Department increased its crude-oil price forecast for 2010 to an average $79.13 a barrel from $78.69 in July, according to its monthly Short-Term Energy Outlook, released yesterday. The department raised its estimate for global oil consumption this year to 85.91 million barrels a day from 85.82 million last month.<br /><br />A weather system in the southeastern Gulf of Mexico has a 70 percent chance of becoming a tropical storm in the next 48 hours, according to a U.S. National Hurricane Center forecast at 2 p.m. Miami time.<br /><br />U.S. crude oil supplies declined 2.8 million barrels last week, the American Petroleum Institute said. An Energy Department report today may show that inventories dropped by 2 million barrels, according to a Bloomberg News survey.<br /><br />Gasoline stockpiles increased 729,000 barrels last week, the Petroleum Institute said. The Energy Department report may show inventories rose 250,000 barrels from 223 million, the Bloomberg News survey shows.<br /><br />The Petroleum Institute collects stockpile information on a voluntary basis from operators of refineries, bulk terminals and pipelines. The government requires that reports be filed with the Energy Department for its weekly survey.<br /><br />Brent crude oil for September settlement fell $1.39, or 1.7 percent, to $79.60 a barrel on the London-based ICE Futures Europe Exchange yesterday.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-75103623605927953382010-08-11T08:41:00.001+08:002010-08-11T08:41:46.216+08:00FCPO Daily Commentary for 11th Aug 2010<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgi12uJAGW58vxdlyxCrlWotWDHh2rl_WtzLrW2pbuZJ98Jruefc5qa24rrKKBaRlmGG0tGcgiPe3pJbS2rzuBnGh9jg182ycoZ7Q4Uqug6Mb_Zs_bTHDUsdfRRIwX7jOj0IsZv0wCWiewo/s1600/FCPO110810.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 298px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgi12uJAGW58vxdlyxCrlWotWDHh2rl_WtzLrW2pbuZJ98Jruefc5qa24rrKKBaRlmGG0tGcgiPe3pJbS2rzuBnGh9jg182ycoZ7Q4Uqug6Mb_Zs_bTHDUsdfRRIwX7jOj0IsZv0wCWiewo/s400/FCPO110810.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5503946026184855794" /></a><br />FCPO 3rd month Oct futures contract traded RM60 lower to close at RM2670 levels as compare to previous trading sessions with a total of 11,009 lots traded in the market. FCPO price plunge lower during trading sessions as soybean oil and crude oil were traded lower during electronic trading while unfavorable ITS and SGS export figure were released during morning and afternoon trading sessions. <br />FCPO price penetrate previous support levels at RM2710 when open for trading at RM2708 and continue to plunge lower in attempt to test support levels at RM2690 and RM2660; both are 23.6% and 38.2%, in the hourly price chart. Technically, FCPO price seems more towards downside where next nearest support seen at RM2660 and RM2644 while crucial support levels seen at RM2538 regions. Failure to hold trading price above support levels shall trigger further selling pressure into the market. Resistances levels were seen at RM2695 and RM2736 regions.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-86591818945572036362010-08-11T08:40:00.000+08:002010-08-11T08:41:17.669+08:00FKLI Daily Commentary for 11th Aug 2010<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNY79iNTTucBe1Pncy2F1cbW65wuX4yhJHRqB5Idxbw_hYebK6kuYsUMSZD8qMHiXT5zwEdTjHIuMWaOBnp8kQ4v-ptU11xsnmmYcDyahrqdETHDaL3tnIsX694VFL-nABTSUFB6I9AsOv/s1600/FKLI110810.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 298px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNY79iNTTucBe1Pncy2F1cbW65wuX4yhJHRqB5Idxbw_hYebK6kuYsUMSZD8qMHiXT5zwEdTjHIuMWaOBnp8kQ4v-ptU11xsnmmYcDyahrqdETHDaL3tnIsX694VFL-nABTSUFB6I9AsOv/s400/FKLI110810.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5503945887232506706" /></a><br />FKLI Aug Futures contract traded 9.5 points lower to close at 1356.0 levels as compare to previous trading session to with a total of 3,431 lots traded in the market. FKLI opened unchanged and continue to trade lower during trading sessions as regional indices especially Shanghai Index plunge more than 2% upon end of trading sessions while Dow Jones Futures electronic trading was traded lower during the trading hours.<br />FKLI plunge lower during trading sessions after attempt to penetrate resistance levels at 1367 failed while previous support levels at 1361 seems fails to hold against selling pressure. Technically, FKLI seems trading south in the coming trading sessions provided support levels at 1355 and 13505 fails to hold firm against the selling activities. However, FKLI would be affirming bullish sentiment back into rally once resistance levels at 1367 and 1379 were violated in the coming trading sessions.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-78286351037774282792010-08-10T10:10:00.001+08:002010-08-10T10:10:35.123+08:00Oil Trades Above $81 After Rising With Equities on Optimism Over EconomyCrude oil was little changed above $81 a barrel in New York after rising for the first time in four days as advancing equity markets buoyed confidence that the economic rebound will spur fuel demand.<br /><br />Oil rose 1 percent yesterday as the MSCI World Index of equities in 24 developed nations climbed to a 12-week high amid speculation slower U.S. jobs growth will prompt the Federal Reserve to extend efforts to strengthen the economy. U.S. crude stockpiles probably declined last week, according to a Bloomberg News survey before an Energy Department report tomorrow.<br /><br />“Sentiment in the oil market is very mixed,” Jonathan Barratt, managing director at Commodity Broking Services Pty in Sydney, said by telephone. “We’re stuck in a range. If oil takes out $82.50, it’ll be a different ball game. It may test $85.”<br /><br />Crude oil for September delivery was at $81.49 a barrel, up 1 cent, in electronic trading on the New York Mercantile Exchange at 10:59 a.m. Sydney time. Yesterday, the contract rose 78 cents to settle at $81.48. Futures have climbed 16 percent in the past year.<br /><br />The MSCI index advanced 0.5 percent in New York, the Standard & Poor’s 500 Index gained 0.6 percent and the Dow Jones Industrial Average increased 0.4 percent. The Federal Open Market Committee meets today.<br /><br />A report that U.S. companies hired fewer workers than forecast last month intensified a debate among economists over whether Fed policy makers will take an incremental step toward providing more stimulus.<br /><br />Crude Inventories<br /><br />Crude stockpiles in the U.S. probably declined 2 million barrels last week, according to the Bloomberg survey. Refineries probably ran at 90.7 percent, down 0.5 percentage point from the prior week, the survey showed.<br /><br />The Energy Department is scheduled to release its weekly report at 10:30 a.m. tomorrow in Washington.<br /><br />Global refining margins, or the profit from turning crude oil into fuels such as gasoline and diesel, averaged $4.58 a barrel from July 1 to Aug. 5, down 17 percent from a second- quarter average of $5.49 a barrel, according to data published yesterday by BP Plc.<br /><br />The margin along the U.S. Gulf Coast, home to 43 percent of the country’s refining capacity, was $4.84 a barrel, down 27 percent from the second-quarter average, according to BP’s Global Indicator Margin. Lower refinery margins reduce the incentive to buy and process oil into gasoline and other fuels.<br /><br />Brent crude oil for September settlement traded at $81.05 a barrel, up 6 cents, on the London-based ICE Futures Europe exchange at 11:03 a.m. Sydney time. Yesterday, the contract rose 83 cents, or 1 percent, to settle at $80.99.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-23200138295920860252010-08-10T09:55:00.000+08:002010-08-10T10:09:10.217+08:00Soybean Premiums Drop as U.S. Farmers Boost Sales Following Futures RallyCash premiums for soybeans shipped to export terminals near New Orleans declined relative to Chicago futures as farmers increased sales after prices rallied for a ninth straight session. Corn premiums were unchanged.<br /><br />The spot-basis bid, or premium, for soybeans delivered in August dropped to 80 cents to 94 cents a bushel above November futures on the Chicago Board of Trade from 92 cents to $1 on Aug. 6, U.S. Department of Agriculture data show. Corn premiums for delivery this month were 25 cents to 30 cents above September futures.<br /><br />“The cash soybean market is weaker because farmers are moving more of last year’s crop,” said Dax Wedemeyer, an analyst at U.S. Commodities Inc. in West Des Moines, Iowa.<br /><br />Soybean futures for November delivery rose 1.5 cents, or 0.1 percent, to close at $10.35 a bushel at 1:15 p.m. on the Chicago Board of Trade. Prices gained for the ninth straight session, the longest rally since September 2007.<br /><br />Corn futures for September delivery fell 2 cents, or 0.5 percent, to $4.03 a bushel. On Aug. 5, the price reached $4.2525, the highest level for the contract since Jan. 12.<br /><br />Government inspectors examined 7.13 million bushels of soybeans for export in the week ended Aug. 5, down 40 percent from a year earlier, the USDA said today in a report. Corn inspections rose 17 percent.<br /><br />“Soybean shipments are slowing because exporters are waiting for big crops” that farmers will begin harvesting in the next six weeks, Wedemeyer said. “Corn demand is holding up a little better.”motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-79946068984382534552010-08-10T08:30:00.003+08:002010-08-10T08:31:14.740+08:00FCPO Daily Commentary for 10th Aug 2010<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh9Hset8GBjBIHx5n08ijZwOLJ5drKOTPhSuvk8CpFxcqpb06qID0O8bOG_Lr36tGVPftvjTmIAVch5dCycUMT52ZaJpuMsJdeq0pTMBChXq9C7cWRTGPrp3zrmLtFAgVTLx3Wpu21irZsE/s1600/FCPO100810.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 298px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh9Hset8GBjBIHx5n08ijZwOLJ5drKOTPhSuvk8CpFxcqpb06qID0O8bOG_Lr36tGVPftvjTmIAVch5dCycUMT52ZaJpuMsJdeq0pTMBChXq9C7cWRTGPrp3zrmLtFAgVTLx3Wpu21irZsE/s400/FCPO100810.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5503572221241348050" /></a><br />FCPO 3rd month Oct futures contract traded RM70 higher to close at RM2731 levels as compare to previous trading sessions with a total of 14,200 lots traded in the market. FCPO price open higher for trading and continue traded higher during trading sessions as soybean oil and crude oil electronic trading were traded higher during electronic trading sessions. <br />FCPO price penetrate daily resistance trend line at RM2680 regions and continue to search higher resistance regions before settle at RM2731 by the end of trading sessions. Technically, FCPO price expected to trade higher on bullish sentiment provided support levels at RM2700 and RM2668; both are 23.6% and 38.2% Fibonacci support levels, were not violated in the coming trading sessions. However, FCPO price would expect to encounter some selling pressure around resistance levels at RM2747 and RM2807 regions; 78.6% and 100% Fibonacci resistance levels.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0tag:blogger.com,1999:blog-450996712605256921.post-26283001709205881462010-08-10T08:30:00.002+08:002010-08-10T08:30:48.992+08:00FKLI Daily Commentary for 10th Aug 2010<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikZhDJr7uSgTGMYf-YDuNKzSMltWaWVV5e4PgfhVWkptbxowYp0n_AXqhEPBjnRZz4TsFFTUd07WErnwOa25kYPPWoFDV7zZ9SyynelaNhbzG5GBt_FaAMerWEh5jxBgu14jElh2qmtTVT/s1600/FKLI100810.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 298px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikZhDJr7uSgTGMYf-YDuNKzSMltWaWVV5e4PgfhVWkptbxowYp0n_AXqhEPBjnRZz4TsFFTUd07WErnwOa25kYPPWoFDV7zZ9SyynelaNhbzG5GBt_FaAMerWEh5jxBgu14jElh2qmtTVT/s400/FKLI100810.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5503572105944528354" /></a><br />FKLI Aug Futures contract traded 2.5 points higher to close at 1365.5 levels as compare to previous trading session to with a total of 3,962 lots traded in the market. FKLI opened lower upon open for trading sessions as Nikkei index was traded lower but FKLI soon manage to recover from losses as Hang Seng index and other regional indices manage to recover during trading sessions. <br />FKLI succeed in attempt to penetrate hourly support trend line seen at 1363 regions while attempt manage to search support at 1358 regions; 78.6% Fibonacci support levels at 1379 regions. Technically, FKLI would trigger further sells activities if traded price fails to penetrate resistance levels at 1369 and 1379 regions. However, FKLI would only be further affirming on bearish sentiment provided support levels at 1355 and 1350.5 fails to hold against the selling pressure.motintinhttp://www.blogger.com/profile/00864383249459391725noreply@blogger.com0