FKLI will likely open a little higher today, for the first trade, one can attempt to Long 1-3 points below the opening price. Try get 5-7 points profits and put a stop 5 points away from your entry point. Close your position by the end of the day.
As for FCPO, market closed higher yesterday after trading within the previous day's range. Support followed gains in CBT soyoil and firmer China Dalian futures. Strong gains in crude mineral oil also underpinned sentiment. Gains were however checked by firmer ringgit, which gained about 0.8 pct vs USD today. Prices were 4 lower to 13 higher in the morning and held steady to firmer in the afternoon.
Generally, market is continuing sideways due to absence of new factors. The better March exports were balanced by the sharp increase in Southern POMA production. Bigger US soyabean plantings and bumper South American crop currently being harvested were discounted as already expected.
Technical view - sideway market continued. Prices remain within the 2120 - 2220 range. Trend sideways ; RSI 43.45 ; parabolic SAR at 2189 ; support 2130 / 2100 / 2080 / 2050 ; resistance 2230 / 2280 / 2320 / 2400.
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