FKLI Commentary on 21/04/09

FKLI April futures contract rebound another 7.5 points higher to close at 965 as compare to previous trading session with total 7,188 lots traded in the market. FKLI traded higher in the 2nd trading session as regional indices close more firm compare before market closing.

Technically, FKLI resistance levels at 969 was tested during the trading session but seems fails to breach through. We expect FKLI would lower in the coming trading session provided resistance levels at 969 and 974 were not violated. Traders were advice to hold short position in the coming trading session while be alert that supports were seen at 960 and 950 regions.

FCPO Commentary on 21/04/09

FCPO 3rd month July Futures contract rebound RM11 higher to close at RM2446 as compare to previous trading session with 11,376 lots traded in the market. CPO was traded higher since 1st trading session but consolidate in the 2nd trading session.

Technically, CPO price topped around 78.6% Fibonacci rebound levels at RM2493 regions. We expect CPO price begin to ride on a bear rally provided resistance levels at RM2500 and RM2540 were not violated in the coming trading session. Traders were advice to hold short position in the coming trading session while alert around support levels at RM2390 and RM2330 regions.