FKLI will likely open a little lower, for the first trade today, one can attempt to Short 1-3 points above the opening price. Try get 5-7 points profit and put a stop 5 point away from your entry point. Close your position by the end of the day.
For FCPO, market rose on Friday on good support throughout the session. Buying was encouraged by continued weakness in the ringgit, which lost about 0.4 pct vs USD. Some bargain buying on ideas that prices were relatively low added support. Weekend short covering and technical correction from the oversold situation in the RSI magnified gains. Prices rose 4 to 25 higher in the morning and firmed to 30 higher in the afternoon.
Fundamentals are little changed. July production may turn out to be lower than the expected 10 pct increase which may result in further drop in stocks. This will keep stocks manageable as production enters the August - October peak period. Meanwhile, weather forecast in the US and India are reportedly good and is negative. However, prices of palm oil and soyoil are relatively low currently and will be sensitive to any positive development.
Technical view - the strong showing today puts prices in a 2250 - 2300 trading range. Breakouts from these levels may see the next major move. Trend down ; RSI 37.30 ; parabolic SAR at 2287 ; support 2250 / 2200 / 2135 ; resistance 2300 / 2345 / 2400.
Right here is the right site for anybody who wishes to find out about
ReplyDeletethis topic. You understand a whole lot its almost hard to argue with you (not that I really would want to…HaHa).
You certainly put a new spin on a subject that's been written about for a long time.
Wonderful stuff, just great!
Hello very nice web site!! Guy .. Excellent .. Wonderful ..
ReplyDeleteI'll bookmark your web site and take the feeds also? I'm glad to search out numerous helpful information right here in the submit, we need work out more techniques in this regard,
thank you for sharing. . . . . .
An impressive share! I've just forwarded this onto a friend who had
ReplyDeletebeen doing a little homework on this. And he actually
bought me breakfast simply because I stumbled upon it for him...
lol. So allow me to reword this.... Thank YOU for
the meal!! But yeah, thanx for spending time to talk about this subject here on your
web page.
Excellent site you have here.. It's hard to find excellent writing like yours nowadays.
ReplyDeleteI really appreciate people like you! Take care!!