Friday, October 31, 2014
Trading Tips for the Day - 31 October 2014
FKLI will open higher today, one can attempt to Long 1-3 points below the opening price. Try get 5-7 points profit and put a stop 5 points away from your entry point. Close your position by the end of the day.
Thursday, October 30, 2014
Trading Tips for the Day - 30 October 2014
FKLI will likely open very near to yesterday's closing price, 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 points away from your entry point. Close your position by the end of the day.
As for FCPO, market rose to its highest level since 8 August on continued strong support. Buying was encouraged by sharply higher CBT soyoil and China Dalian futures. Short covering and technical buy stops above 2250 added gains. The slightly positive projections from the market analysts at the POTS KL Conference also underpinned sentiment. Prices gapped 23 to 8 higher in the morning and rose steadily to 54 higher in the afternoon.
Are the lows behind us? Historical trend usually show market climbing after October as production starts to drop. Rainy weather and floods also contribute to the positive trend. However, current fundamentals are not bullish. Exports have been just average and stocks will likely increase. The rainy weather and flood situation are uncertain at the moment. In any case, the market analysts' projections of higher prices in the first quarter probably affected sentiment.
Technical view - prices rose above 2250, continuing the uptrend to 2300. Trend up ; RSI 66.80 ; stochastic overbought ; 5-day MA intersected 20-day MA from below ; macd intersected trigger line from below ; support 2220 / 2165 / 2100 / 2065 ; resistance 2300 / 2345 / 2400.
As for FCPO, market rose to its highest level since 8 August on continued strong support. Buying was encouraged by sharply higher CBT soyoil and China Dalian futures. Short covering and technical buy stops above 2250 added gains. The slightly positive projections from the market analysts at the POTS KL Conference also underpinned sentiment. Prices gapped 23 to 8 higher in the morning and rose steadily to 54 higher in the afternoon.
Are the lows behind us? Historical trend usually show market climbing after October as production starts to drop. Rainy weather and floods also contribute to the positive trend. However, current fundamentals are not bullish. Exports have been just average and stocks will likely increase. The rainy weather and flood situation are uncertain at the moment. In any case, the market analysts' projections of higher prices in the first quarter probably affected sentiment.
Technical view - prices rose above 2250, continuing the uptrend to 2300. Trend up ; RSI 66.80 ; stochastic overbought ; 5-day MA intersected 20-day MA from below ; macd intersected trigger line from below ; support 2220 / 2165 / 2100 / 2065 ; resistance 2300 / 2345 / 2400.
Wednesday, October 29, 2014
Trading Tips for the Day - 29 October 2014
FKLI will likely open a few points higher, for the first trade, one can attempt to Long 1-3 points below the opening price. Try get 5-7 points profit and put a stop 5 points away from your entry point. Close your position by the end of the day.
As for FCPO, market rose to its highest level in nearly 3 weeks yesterday on firmer cash market and better sentiment. Technical considerations and short covering as prices rose above 2200 added gains. Reports by Southern POMA of lower 1-25 October production was also supportive. Fresh sellers were lacking. Lower CBT soyoil had little effect. Prices were 5 to 28 higher in the morning and rose to 50 higher in the afternoon.
Sentiment was also boosted by reports that Malaysia will increase its biodiesel mandate from 5 pct to 7 pct in stages from November onwards. The prospect of coming monsoon rains disrupting production and the seasonally declining production in the coming months were also supportive.
However, the likelihood of stocks increasing in October and bigger global vegetable oils supplies are negative and will check gains.
Technical view - the rise above 2200 is positive. An effective break above 2223 will extend the upside to 2300. Trend sideways to higher ; RSI 60.75 ; parabolic triggered a "buy" signal above 2194 ; stochastic slightly overbought ; 5-day MA intersected 20-day MA from below ; macd intersected trigger line from below ; support 2140 / 2100 / 2065 / 2000 ; resistance 2223 / 2250 / 2300.
As for FCPO, market rose to its highest level in nearly 3 weeks yesterday on firmer cash market and better sentiment. Technical considerations and short covering as prices rose above 2200 added gains. Reports by Southern POMA of lower 1-25 October production was also supportive. Fresh sellers were lacking. Lower CBT soyoil had little effect. Prices were 5 to 28 higher in the morning and rose to 50 higher in the afternoon.
Sentiment was also boosted by reports that Malaysia will increase its biodiesel mandate from 5 pct to 7 pct in stages from November onwards. The prospect of coming monsoon rains disrupting production and the seasonally declining production in the coming months were also supportive.
However, the likelihood of stocks increasing in October and bigger global vegetable oils supplies are negative and will check gains.
Technical view - the rise above 2200 is positive. An effective break above 2223 will extend the upside to 2300. Trend sideways to higher ; RSI 60.75 ; parabolic triggered a "buy" signal above 2194 ; stochastic slightly overbought ; 5-day MA intersected 20-day MA from below ; macd intersected trigger line from below ; support 2140 / 2100 / 2065 / 2000 ; resistance 2223 / 2250 / 2300.
Tuesday, October 28, 2014
Trading Tips for the Day - 28 October 2014
FKLI will likely open a few points 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 points away from your entry point. Close your position by the end of the day.
Monday, October 27, 2014
Trading Tips for the Day - 27 October 2014
FKLI will likely open a few points higher today, for the first trade, one can attempt to Long 1-3 points below the opening price. Try get 5-7 points profit and put a stop 5 points away from your entry point. Close your position by the end of the day.
As for FCPO, market rose to a 2-week high Friday on better support in the morning. Buying was encouraged by strong gains in CBT soyoil and higher China Dalian futures. Firmer cash market added support. Gains were capped by rumours of lower 1-25 October exports and weekend profit taking. Softer close in China Dalian futures and lower crude mineral oil in Asian trade also undermined sentiment. Prices were 11 to 24 higher in the morning and eased to 2 higher in the afternoon.
Export numbers by the cargo surveyors will provide incentives in the coming week. Rumoured that the 1-25 October exports are at an average pace which should be neutral. Traders will also be looking towards the market analysts projections at the POTS KL Conference on 28 / 29 October for some direction. Fundamentally, there are no changes.
Technical view - prices moved into a 2200 - 2100 trading range with a slightly positive bias. Trend sideways ; RSI 56.49 ; parabolic SAR at 2194 ; support 2140 / 2100 / 2065 / 2000 ; resistance 2223 / 2250 / 2300.
As for FCPO, market rose to a 2-week high Friday on better support in the morning. Buying was encouraged by strong gains in CBT soyoil and higher China Dalian futures. Firmer cash market added support. Gains were capped by rumours of lower 1-25 October exports and weekend profit taking. Softer close in China Dalian futures and lower crude mineral oil in Asian trade also undermined sentiment. Prices were 11 to 24 higher in the morning and eased to 2 higher in the afternoon.
Export numbers by the cargo surveyors will provide incentives in the coming week. Rumoured that the 1-25 October exports are at an average pace which should be neutral. Traders will also be looking towards the market analysts projections at the POTS KL Conference on 28 / 29 October for some direction. Fundamentally, there are no changes.
Technical view - prices moved into a 2200 - 2100 trading range with a slightly positive bias. Trend sideways ; RSI 56.49 ; parabolic SAR at 2194 ; support 2140 / 2100 / 2065 / 2000 ; resistance 2223 / 2250 / 2300.
Friday, October 24, 2014
Trading Tips for the Day - 24 October 2014
FKLI will open higher today with Dow Jones closing more than 200 points up. For the first trade today, one can attempt to Long 1-3 points below the opening price. Try get 5-7 points profit and put a stop 5 points away from your entry point. Close your position by the end of the trading day.
As for FCPO, market rose yesterday on good support throughout the session. Buying was encouraged by gains in CBT soyoil and China Dalian futures over the Deepavali holiday. Higher cash market and ideas of good demand were also supportive. Technical buying as prices broke above 2150 added gains. Prices were 12 to 33 higher in the morning and extended gains to 47 higher in the afternoon.
Good support today reflected better sentiment. Buyers were probably looking towards seasonal 1st quarter strength as production comes off after October. However, fundamentals look negative. Stocks will likely increase in October unless exports improve substantially. A bumper US soyabean crop is now under harvest. Crude mineral oil is weak as well as the global economic outlook.
Technical view - the break above 2150 is slightly positive. Prices may rise to 2200. Trend turning sideways ; RSI 54.66 ; parabolic SAR at 2196 ; support 2140 / 2100 / 2065 / 2000 ; resistance 2223 / 2250 / 2300.
As for FCPO, market rose yesterday on good support throughout the session. Buying was encouraged by gains in CBT soyoil and China Dalian futures over the Deepavali holiday. Higher cash market and ideas of good demand were also supportive. Technical buying as prices broke above 2150 added gains. Prices were 12 to 33 higher in the morning and extended gains to 47 higher in the afternoon.
Good support today reflected better sentiment. Buyers were probably looking towards seasonal 1st quarter strength as production comes off after October. However, fundamentals look negative. Stocks will likely increase in October unless exports improve substantially. A bumper US soyabean crop is now under harvest. Crude mineral oil is weak as well as the global economic outlook.
Technical view - the break above 2150 is slightly positive. Prices may rise to 2200. Trend turning sideways ; RSI 54.66 ; parabolic SAR at 2196 ; support 2140 / 2100 / 2065 / 2000 ; resistance 2223 / 2250 / 2300.
Thursday, October 23, 2014
Trading Tips for the Day - 23 October 2014
FKLI will likely open very near to Monday's close, 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 points away from your entry point. Close your position by the end of the trading day.
As for FCPO, market closed slightly higher Monday after narrow range trading on either sides of the previous day's close. Buying was encouraged by firmer cash market and ideas of improving demand. Fresh sellers were lacking. Lower CBT soyoil opened market slightly lower. Prices were 6 lower to 8 higher in the morning and 4 lower to 10 higher in the afternoon.
Fresh incentives were lacking. Fundamentals are negative with end stocks likely to increase unless exports improve substantially. The Southern POMA October production report points to better production than earlier estimates. CBT soyabean / soyoil will remain under pressure from better weather for harvesting. However, market is trading in the seasonally strong 1st quarter months where sentiment is generally positive.
Technical view - prices moved sideways into a 2100 - 2150 range. Indicators remain negative.
As for FCPO, market closed slightly higher Monday after narrow range trading on either sides of the previous day's close. Buying was encouraged by firmer cash market and ideas of improving demand. Fresh sellers were lacking. Lower CBT soyoil opened market slightly lower. Prices were 6 lower to 8 higher in the morning and 4 lower to 10 higher in the afternoon.
Fresh incentives were lacking. Fundamentals are negative with end stocks likely to increase unless exports improve substantially. The Southern POMA October production report points to better production than earlier estimates. CBT soyabean / soyoil will remain under pressure from better weather for harvesting. However, market is trading in the seasonally strong 1st quarter months where sentiment is generally positive.
Technical view - prices moved sideways into a 2100 - 2150 range. Indicators remain negative.
Tuesday, October 21, 2014
Trading Tips for the Day - 21 October 2014
FKLI will open a few points higher today, for the first trade, one can attempt to Long 1-3 points below the opening price. Try get 5-7 points profit and put a stop 5 points away from your entry price. Close your position by the end of the day.
For FCPO, market closed lower yesterday following weakness in CBT soyoil and China Dalian futures. Quiet cash market also undermined support. Losses were held by the better than expected 1-20 October exports which showed improved export pace. Prices were 30 to 12 lower in the morning and 21 to 10 lower in the afternoon.
Generally most factors remained negative. The October exports are expected to be lower vs September. Although production is currently projected to be slightly lower, stocks are likely to increase. The good weather in the US will also likely put CBT soybean / soyoil under some harvest pressure. Weakness in crude mineral oil is also negative. Meanwhile there are concerns that the current dry weather in Brazil may see a lower soybean crop than earlier estimated.
Technical view - indicators remain negative with prices continuing within the downtrend channel. Prices may move to 2050. Trend down ; RSI 47.42 ; support 2100 / 2065 / 2000 ; resistance 2150 / 2223 / 2250 / 2300.
For FCPO, market closed lower yesterday following weakness in CBT soyoil and China Dalian futures. Quiet cash market also undermined support. Losses were held by the better than expected 1-20 October exports which showed improved export pace. Prices were 30 to 12 lower in the morning and 21 to 10 lower in the afternoon.
Generally most factors remained negative. The October exports are expected to be lower vs September. Although production is currently projected to be slightly lower, stocks are likely to increase. The good weather in the US will also likely put CBT soybean / soyoil under some harvest pressure. Weakness in crude mineral oil is also negative. Meanwhile there are concerns that the current dry weather in Brazil may see a lower soybean crop than earlier estimated.
Technical view - indicators remain negative with prices continuing within the downtrend channel. Prices may move to 2050. Trend down ; RSI 47.42 ; support 2100 / 2065 / 2000 ; resistance 2150 / 2223 / 2250 / 2300.
Monday, October 20, 2014
Trading Tips for the Day - 20 October 2014
FKLI will open higher as Dow Jones closed more than 200 points up on Friday. For the first trade today, one can attempt to Short 2-4 points above the opening price. Try get 5-7 points profit and put a stop 5 points away from your entry point. Close your position by the end of the trading day.
For FCPO, market recovered from the past 2 days of losses to close higher Friday. Buying was encouraged by gains in CBT soyoil and a rebound in crude mineral oil. Weekend profit taking and some technical correction from the oversold stochastic added support. Gains were however, checked by easier China Dalian futures. Prices were 9 to 26 higher in the morning and extended gains to 29 higher in the afternoon, holding steady throughout.
Export numbers will be the main factor in the coming weeks. Fundamentally, there are no changes in the weak global vegetable oils outlook. Generally, concerns over slowing demand is undermining support. Bumper US soyabean crop, weak crude mineral oil and slow global economy are also discouraging. However, the prospect of declining production in the coming months may keep a floor under the market around current levels.
Technical view - no change in negative indicators. Prices may move to 2050. Trend down ; RSI 49.35 ; stochastic turned up from oversold ; support 2100 / 2065 / 2000 ; resistance 2150 / 2223 / 2250 / 2300.
For FCPO, market recovered from the past 2 days of losses to close higher Friday. Buying was encouraged by gains in CBT soyoil and a rebound in crude mineral oil. Weekend profit taking and some technical correction from the oversold stochastic added support. Gains were however, checked by easier China Dalian futures. Prices were 9 to 26 higher in the morning and extended gains to 29 higher in the afternoon, holding steady throughout.
Export numbers will be the main factor in the coming weeks. Fundamentally, there are no changes in the weak global vegetable oils outlook. Generally, concerns over slowing demand is undermining support. Bumper US soyabean crop, weak crude mineral oil and slow global economy are also discouraging. However, the prospect of declining production in the coming months may keep a floor under the market around current levels.
Technical view - no change in negative indicators. Prices may move to 2050. Trend down ; RSI 49.35 ; stochastic turned up from oversold ; support 2100 / 2065 / 2000 ; resistance 2150 / 2223 / 2250 / 2300.
Friday, October 17, 2014
Trading Tips for the Day - 17 October 2014
FKLI will likely open a few points lower, for the first trade today, one can attempt to Long 1-3 points below the opening price. Try get 5-7 points profit and put a stop 5 points away from your entry point. Close your position by the end of the day.
For FCPO, weakness in related outside markets closed prices lower again yesterday. Selling followed sharply lower CBT soyoil, crude mineral oil and China Dalian futures. Quiet cash market and ideas of slow demand undermined support. Sentiment was also affected by broad losses across the global equity markets. Technical considerations added pressure. Prices were 6 to 23 lower in the morning and extended losses to 33 lower in the afternoon.
Continued weakness in crude mineral oil is beginning to add pressure on the negative vegetable oils fundamentals. Usage for biodiesel / biofuel will be adversely affected. Concerns over the global economy, amid a five year low inflation rate in China and a decline in US producer prices, added to the negative sentiment. However, seasonal strength and lower production in the coming months may limit the downside.
Technical view - indicators are negative. Prices may move to 2050. Trend down ; RSI 45.0 ; 5-day MA intersected 20-day MA from above ; macd intersected trigger line from above ; stochastic oversold ; support 2100 / 2065 / 2000 ; resistance 2150 / 2223 / 2250 / 2300 / 2345.
For FCPO, weakness in related outside markets closed prices lower again yesterday. Selling followed sharply lower CBT soyoil, crude mineral oil and China Dalian futures. Quiet cash market and ideas of slow demand undermined support. Sentiment was also affected by broad losses across the global equity markets. Technical considerations added pressure. Prices were 6 to 23 lower in the morning and extended losses to 33 lower in the afternoon.
Continued weakness in crude mineral oil is beginning to add pressure on the negative vegetable oils fundamentals. Usage for biodiesel / biofuel will be adversely affected. Concerns over the global economy, amid a five year low inflation rate in China and a decline in US producer prices, added to the negative sentiment. However, seasonal strength and lower production in the coming months may limit the downside.
Technical view - indicators are negative. Prices may move to 2050. Trend down ; RSI 45.0 ; 5-day MA intersected 20-day MA from above ; macd intersected trigger line from above ; stochastic oversold ; support 2100 / 2065 / 2000 ; resistance 2150 / 2223 / 2250 / 2300 / 2345.
Thursday, October 16, 2014
Trading Tips for the Day - 16 October 2014
FKLI will likely open lower today, for the first trade, one can attempt to Short 1-3 points above the opening price. Try get 5-7 points profit and put a stop 5 points away from your entry point. Close your position by the end of the day.
For FCPO, market eroded to a 3-week low yesterday following easier CBT soyoil and continued weakness in crude mineral oil. Technical selling as prices broke below 2137 added losses. Weaker ringgit, which lost about 0.3 pct vs USD today, helped to limit losses. The 1-15 October export numbers were as expected but deemed to be slightly negative. Prices were 5 to 25 lower in the morningand extended losses to 52 lower in the afternoon. Prompt October went off board without trading.
Supporting factors are lacking. Fundamental outlook is negative. The lower exports vs a month ago pointed to slower demand. Weakness in crude mineral oil raised concerns of smaller usage from the fuel sector. Adding weight is the current bumper US soyabean crop. However, the prospect of lower October production is supportive. Sentiment may also be boosted by historically high prices in January-March each year.
Technical view - prices broke below 2137 turning indicators negative. Prices may move to 2050. Trend down ; RSI 47.29 ; parabolic triggered a "sell" signal at 2143 ; 5-day MA intersected 20-day MA from above ; macd intersected trigger line from above ; stochastic oversold ; support 2100 / 2065 / 2000 ; resistance 2150 / 2223 / 2250 / 2300 / 2345.
For FCPO, market eroded to a 3-week low yesterday following easier CBT soyoil and continued weakness in crude mineral oil. Technical selling as prices broke below 2137 added losses. Weaker ringgit, which lost about 0.3 pct vs USD today, helped to limit losses. The 1-15 October export numbers were as expected but deemed to be slightly negative. Prices were 5 to 25 lower in the morningand extended losses to 52 lower in the afternoon. Prompt October went off board without trading.
Supporting factors are lacking. Fundamental outlook is negative. The lower exports vs a month ago pointed to slower demand. Weakness in crude mineral oil raised concerns of smaller usage from the fuel sector. Adding weight is the current bumper US soyabean crop. However, the prospect of lower October production is supportive. Sentiment may also be boosted by historically high prices in January-March each year.
Technical view - prices broke below 2137 turning indicators negative. Prices may move to 2050. Trend down ; RSI 47.29 ; parabolic triggered a "sell" signal at 2143 ; 5-day MA intersected 20-day MA from above ; macd intersected trigger line from above ; stochastic oversold ; support 2100 / 2065 / 2000 ; resistance 2150 / 2223 / 2250 / 2300 / 2345.
Wednesday, October 15, 2014
Trading Tips for the Day - 15 October 2014
FKLI will likely open near yesterday's closing price. For the first trade today, one can attempt to Long 1-3 points below the opening price. Try get 5-7 points profit and put a stop 5 points away from your entry point. Close your position by the end of the day.
As for FCPO, last gasp covering closed market higher yesterday in an erratic session. Selling pressure had surfaced in the late afternoon following rumours of lower 1-15 October exports. Market was higher most of the session with support being encouraged by strong gains in CBT soyoil and higher China Dalian futures. Gains were however, capped by ideas of slow demand and weakness in crude mineral oil. Prices were 28 to 14 higher in the morning and eased to 2 lower in the afternoon.
The 1-15 October exports to be reported by the cargo surveyors tomorrow are expected to be lower against a month ago but with average export pace. Although full October exports are likely to be lower vs September, they may be balanced by the prospect of lower October production.
Meanwhile, reports of wet weather affecting current harvest of the US soyabean crop are supportive. Market needs some fresh news to move out of the current sideway range. Technical view - no change in the sideway trading range of 2220 - 2140. Trend sideways ; RSI 52.63 ; parabolic SAR at 2143 ; support 2137 / 2100 / 2065 / 2000 ; resistance 2223 / 2250 / 2300 / 2345.
As for FCPO, last gasp covering closed market higher yesterday in an erratic session. Selling pressure had surfaced in the late afternoon following rumours of lower 1-15 October exports. Market was higher most of the session with support being encouraged by strong gains in CBT soyoil and higher China Dalian futures. Gains were however, capped by ideas of slow demand and weakness in crude mineral oil. Prices were 28 to 14 higher in the morning and eased to 2 lower in the afternoon.
The 1-15 October exports to be reported by the cargo surveyors tomorrow are expected to be lower against a month ago but with average export pace. Although full October exports are likely to be lower vs September, they may be balanced by the prospect of lower October production.
Meanwhile, reports of wet weather affecting current harvest of the US soyabean crop are supportive. Market needs some fresh news to move out of the current sideway range. Technical view - no change in the sideway trading range of 2220 - 2140. Trend sideways ; RSI 52.63 ; parabolic SAR at 2143 ; support 2137 / 2100 / 2065 / 2000 ; resistance 2223 / 2250 / 2300 / 2345.
Tuesday, October 14, 2014
Trading Tips for the Day - 14 October 2014
FKLI will likely open 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 points away from your entry point. Close your position by the end of the day.
Market closed at one week low today on late sell down. Selling followed quiet cash market which gave ideas of slow demand. Erosion in CBT soyoil, crude mineral oil and easier China Dalian futures also undermined sentiment. USDA supply - demand reports showed no surprises. Prices were 10 higher to 11 lower in the morning and eroded to 30 lower in the afternoon.
There are no changes in fundamentals. The lower 1-10 October exports and higher end
September stocks reported by MPOB will undermine support. Sentiment may also be undermined by the weakness in crude mineral oil, which can affect demand from the fuel sectors, and confirmation of bumper US soyabean crop by USDA. However, prospects of lower October production and historically strong first quarter prices may limit the downside.
Technical view - prices continue to trade within the 2220 - 2140 sideway range with slightly negative bias. Trend sideways ; RSI 51.62 ; parabolic SAR at 2141 ; support 2137 / 2100 / 2065 / 2000 ; resistance 2223 / 2250 / 2300 / 2345.
Market closed at one week low today on late sell down. Selling followed quiet cash market which gave ideas of slow demand. Erosion in CBT soyoil, crude mineral oil and easier China Dalian futures also undermined sentiment. USDA supply - demand reports showed no surprises. Prices were 10 higher to 11 lower in the morning and eroded to 30 lower in the afternoon.
There are no changes in fundamentals. The lower 1-10 October exports and higher end
September stocks reported by MPOB will undermine support. Sentiment may also be undermined by the weakness in crude mineral oil, which can affect demand from the fuel sectors, and confirmation of bumper US soyabean crop by USDA. However, prospects of lower October production and historically strong first quarter prices may limit the downside.
Technical view - prices continue to trade within the 2220 - 2140 sideway range with slightly negative bias. Trend sideways ; RSI 51.62 ; parabolic SAR at 2141 ; support 2137 / 2100 / 2065 / 2000 ; resistance 2223 / 2250 / 2300 / 2345.
Friday, October 10, 2014
Trading Tips for the Day- 10 October 2014
FKLI will likely open lower, for the first trade today, one can attempt ro Long 2-4 points below the opening price. Try get 5 to 7 points profit and put a stop 5 points away from your entry point. Close your position by the end of the day.
Thursday, October 9, 2014
Trading Tips for the Day - 9 October 2014
FKLI will likely open higher, for the first trade today, one can attempt to Long 1-3 points below the opening price. Try get 5-7 points profit and put a stop 5 points away from your entry point. Close your position by the end of the day.
Wednesday, October 8, 2014
Trading Tips for the Day - 8 October 2014
FKLI will likely open lower today after Dow Jones fell more than 200 points overnight. For the first trade today, one can attempt to Long 2-4 points below the opening price. Try get 5-7 points profit and put a stop 5 points away from your entry point. Close your position by the end of the day.
Market extended gains today following sharply higher CBT soyoil over the 3-day weekend. Gains were however, capped by weakness in crude mineral oil and the Reuters poll on September data which kept stocks about unchanged. Firmer cash market was also supportive. Prices were 35 to 22 higher in the morning and 28 to 7 higher in the afternoon.
There was some cautiousness as market look towards resumption of trading in China Dalian tomorrow after the one week holiday, export numbers by the cargo surveyors for 1-10 October, and the MPOB September data on 10 October. Reuters poll today was slightly negative as most expectations earlier are for some drop in stocks. In anycase, we think demand prospects will be the primary factor in the coming weeks.
Technical view - prices are sideways in a 2220 - 2140 range. Trend sideways ; RSI 56.83 ; parabolic SAR at 2220 ; support 2137 / 2100 / 2065 / 2000 ; resistance 2223 / 2250 / 2300 / 2345.
Market extended gains today following sharply higher CBT soyoil over the 3-day weekend. Gains were however, capped by weakness in crude mineral oil and the Reuters poll on September data which kept stocks about unchanged. Firmer cash market was also supportive. Prices were 35 to 22 higher in the morning and 28 to 7 higher in the afternoon.
There was some cautiousness as market look towards resumption of trading in China Dalian tomorrow after the one week holiday, export numbers by the cargo surveyors for 1-10 October, and the MPOB September data on 10 October. Reuters poll today was slightly negative as most expectations earlier are for some drop in stocks. In anycase, we think demand prospects will be the primary factor in the coming weeks.
Technical view - prices are sideways in a 2220 - 2140 range. Trend sideways ; RSI 56.83 ; parabolic SAR at 2220 ; support 2137 / 2100 / 2065 / 2000 ; resistance 2223 / 2250 / 2300 / 2345.
Tuesday, October 7, 2014
Trading Tips for the Day - 7 October 2014
FKLI will likely open higher today, for the first trade, one can attempt to Long 1-3 points below the opening price. Try get 5 to 7 points profit and out a stop 5 points away from the entry point. Close your position by the end of the day.
Market closed higher on Friday after trading within the previous day's range. Buying was encouraged by steady CBT soyoil and some recovery in crude mineral oil. Short covering for the 3-day weekend and ideas that yesterday's drop was overdone added support. Gains were capped by a quiet cash market and ideas of slow demand. Prices were 5 to 23 higher in the morning and extended gains to 31 higher in the afternoon.
Fresh factors were lacking. Concerns over lower exports in October, record US soyabean crop currently being harvested, and weakness in crude mineral oil will undermine sentiment. Prospects of lower production in the coming months and ideas that prices are currently relatively low will encourage support on dips. Market will be guided by the 1-10 October exports and the MPOB September data in the coming week.
Technical view - prices turned sideways from big drop yesterday. Some indicators are negative and pull backs are sell opportunities. Trend sideways ; RSI 55.39 ; support 2137 / 2100 / 2065 / 2000 ; resistance 2223 / 2250 / 2300 / 2345.
Friday, October 3, 2014
Trading Tips for the Day - 3 October 2014
FKLI will likely open very near to yesterday's closing price. For the
first trade today, one can attempt to Long 1-3 points below the opening
price, try get 5-7 points and put a stop 5 points away from your entry
point. Close your position by the end of the day.
Market closed sharply lower today on strong selling in the afternoon. Selling was prompted by big drop in crude mineral oil, which lost more than USD2.00 in Asian trade. Stronger ringgit vs USD, gaining more than 0.6 pct, added weight. Technical selling as prices broke below the up trend channel magnified losses. Market was supported in the morning following strong gains in CBT soyoil. Prices were 16 higher to unchanged in the morning and eroded to 58 lower in the afternoon.
Weakness in crude mineral oil and stronger ringgit today added to concerns over slower demand in the coming months. Historically, market also trends slightly negative during the China National Day holiday week due to quiet conditions from the Chinese interest. Think export demand and production in October will be crucial to market direction and closely monitored. Current outlook is slightly negative.
Technical view - prices corrected further from the overbought stochastic. The break out of the up trend channel and below 2150 turned some indicators negative. Prices may erode to 2050. Trend turning sideways ; RSI 52.30 ; parabolic triggered a "sell" signal at 2162 ; stochastic turned down from overbought ; support 2100 / 2065 / 2000 ; resistance 2223 / 2250 / 2300 / 2345.
Market closed sharply lower today on strong selling in the afternoon. Selling was prompted by big drop in crude mineral oil, which lost more than USD2.00 in Asian trade. Stronger ringgit vs USD, gaining more than 0.6 pct, added weight. Technical selling as prices broke below the up trend channel magnified losses. Market was supported in the morning following strong gains in CBT soyoil. Prices were 16 higher to unchanged in the morning and eroded to 58 lower in the afternoon.
Weakness in crude mineral oil and stronger ringgit today added to concerns over slower demand in the coming months. Historically, market also trends slightly negative during the China National Day holiday week due to quiet conditions from the Chinese interest. Think export demand and production in October will be crucial to market direction and closely monitored. Current outlook is slightly negative.
Technical view - prices corrected further from the overbought stochastic. The break out of the up trend channel and below 2150 turned some indicators negative. Prices may erode to 2050. Trend turning sideways ; RSI 52.30 ; parabolic triggered a "sell" signal at 2162 ; stochastic turned down from overbought ; support 2100 / 2065 / 2000 ; resistance 2223 / 2250 / 2300 / 2345.
Thursday, October 2, 2014
Trading Tips for the Day - 2 October 2014
FKLI will likely open a little lower, for the first trade today, one can attempt to Long 1-3 points below the opening price. Try get 5-7 points profit and put a stop 5 points away from your entry point. Close your position by the end of the day.
Market closed lower yesterday after an erratic trading session. Selling followed erosion in CBT soyoil and absence of fresh supporting factors. Technical correction from the overbought stochastic added weight. There was light support in the early afternoon, led by speculative buying, which did not follow through. Prices were 23 to 4 lower in the morning and 6 higher to 28 lower in choppy afternoon trading.
The slower export pace in the last 5 days of September probably dented bullish enthusiasm. There are concerns that October exports may be lower especially with the China market on a one week holiday. Sentiment was also affected by weakness in CBT soyoil / soyabean which discounted the low stocks and placed more emphasis on harvest pressure. Think October production will be closely watched after September production was reportedly lower.
Technical view - prices correcting from the overbought situation in the stochastic. Prices held within the up trend channel, keeping indicators positive. trend up ; RSI 60.62 ; parabolic SAR at 2162 ; stochastic overbought ; support 2150 / 2065 / 2000 ; resistance 2250 / 2300 / 2345.
Market closed lower yesterday after an erratic trading session. Selling followed erosion in CBT soyoil and absence of fresh supporting factors. Technical correction from the overbought stochastic added weight. There was light support in the early afternoon, led by speculative buying, which did not follow through. Prices were 23 to 4 lower in the morning and 6 higher to 28 lower in choppy afternoon trading.
The slower export pace in the last 5 days of September probably dented bullish enthusiasm. There are concerns that October exports may be lower especially with the China market on a one week holiday. Sentiment was also affected by weakness in CBT soyoil / soyabean which discounted the low stocks and placed more emphasis on harvest pressure. Think October production will be closely watched after September production was reportedly lower.
Technical view - prices correcting from the overbought situation in the stochastic. Prices held within the up trend channel, keeping indicators positive. trend up ; RSI 60.62 ; parabolic SAR at 2162 ; stochastic overbought ; support 2150 / 2065 / 2000 ; resistance 2250 / 2300 / 2345.
Wednesday, October 1, 2014
Trading Tips for the Day - 1 October 2014
FKLI will likely open near yesterday's close, for the first trade today, one can attempt to Long 1-3 points below the opening price. Try get 5-7 points profit and put a stop 5 points away from your entry point. Close your position by the end of the day.
For FCPO, market rose in the last hour of trading to close higher yesterday. Buying was encouraged by rumours of high 1-30 September exports to be reported by the cargo surveyors tomorrow. Weaker ringgit, which lost about 0.6 pct vs USD, was also supportive. Market eased early following lower CBT soyoil and China Dalian futures. Trading volume was relatively low today. Prices were 17 to 1 lower in the morning and rose to 17 higher in the afternoon.
A confirmation of strong exports in September will keep market supported in the coming days. Together with lower September production, stocks will likely drop, contrary to earlier expectations.
There are also expectations for the Malaysian government to keep the zero cpo export duty through December which will also underpin sentiment. However, the bumper US soyabean crop and prospects of higher October production may cap gains. Meanwhile, opinions were mixed from the market analysts at the Globoil Conference in India over the weekend.
Technical view - prices are maintaining their upward momentum towards 2250. Indicators remain positive. Trend up ; RSI 61.58 ; parabolic SAR at 2131 ; stochastic overbought ; support 2150 / 2065 / 2000 / 1950 ; resistance 2210 / 2250 / 2300 / 2345.
For FCPO, market rose in the last hour of trading to close higher yesterday. Buying was encouraged by rumours of high 1-30 September exports to be reported by the cargo surveyors tomorrow. Weaker ringgit, which lost about 0.6 pct vs USD, was also supportive. Market eased early following lower CBT soyoil and China Dalian futures. Trading volume was relatively low today. Prices were 17 to 1 lower in the morning and rose to 17 higher in the afternoon.
A confirmation of strong exports in September will keep market supported in the coming days. Together with lower September production, stocks will likely drop, contrary to earlier expectations.
There are also expectations for the Malaysian government to keep the zero cpo export duty through December which will also underpin sentiment. However, the bumper US soyabean crop and prospects of higher October production may cap gains. Meanwhile, opinions were mixed from the market analysts at the Globoil Conference in India over the weekend.
Technical view - prices are maintaining their upward momentum towards 2250. Indicators remain positive. Trend up ; RSI 61.58 ; parabolic SAR at 2131 ; stochastic overbought ; support 2150 / 2065 / 2000 / 1950 ; resistance 2210 / 2250 / 2300 / 2345.
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