Trading Tips for the Day - 10 August 2015

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.

Trading Tips for the Day - 5 August 2015

FKLI opened at the same price as yesterday's closing.  For the first trade, one can attempt to Long at 1710.  Try get 5-7 points profit and put a stop at 5 points.  Close your position by the end of the day.

As for FCPO, market closed slightly higher yesterday after eroding to fresh new lows since 11 September 2014. Trading was rather erratic with prices doing nearly a full circle. Ideas that market was due for a rebound after sharp losses the previous day opened market higher. But weakness in CBT soyoil and China Dalian olein futures continued to pressure sentiment. The technically oversold situation brought choppy trading in the afternoon. Prices were 19 higher to 28 lower in the morning and 26 lower to 18 higher in the afternoon.

Positive factors are lacking at present. Production is expected to be higher in August - October. US is forecasting favourable weather for the current soyabean crop. India is reporting good monsoon. China is showing slower economic growth. Crude mineral oil is expected to continue weak. However, the discount of palm oil to soyoil and other vegetable oils is relatively big. This will encourage bottom picking and together with the prospect of El Nino weather in the coming months, they may limit the downside.

Technical view - no change in the down trend and negative indicators. The oversold situation in the RSI may bring some upward correction.  Trend down ; RSI 28.51 ( oversold ) ; support 2025 / 2000 / 1950 / 1915 ; resistance 2070 / 2100 / 2150 / 2175. 

In other news

 U.S. stock indexes slipped after Federal Reserve Bank of Atlanta President Dennis Lockhart said the economy is ripe for a rise in short-term interest rates. The energy sector gave up early gains to close half a percent lower as oil attempted to recover recent losses, while Apple closed down 3.2% as the greatest blue chip decliner.

🇺🇸 U.S. government bonds suffered the biggest one-day selloff in nearly a month, nearly sending the yield on the two-year note to its highest of the year, after comments from a top Fed official raised anxiety over an interest-rate increase next month.

€ European stocks were down as a slide in bank stocks led the overall market lower after Credit Agricole SA tumbled 10% when it failed to win approval from regulators for a reorganization that may free up capital to repay investors.

€ Eurozone Jun PPI unexpectedly fell for the first time in five months as it slid -0.1% m/m, weaker than expectations of lunch m/m. On an annual basis, Jun PPI fell -2.2% y/y, right on expectations.

🇨🇳 China shares ended +3.69% higher after officials announced fresh steps to rein in short selling.

🇨🇳 China took another step to curb volatility in its stock markets, moving to clamp down on short selling in the country. Under new rules, short sellers must wait at least one day to cover their positions and pay back loans used to buy shares.

⛽ Oil prices rose on expectations that inventory data due Wednesday would show U.S. crude-oil supplies fell last week.
* Crude oil $45.74 (+0.57)
* Brent crude $50.18 (+0.66)

👑 Gold retreated from intraday highs as the dollar moved higher and a voting member of the U.S. Federal Reserve said he is ready to support an interest rate increase in September. Now, $1,085.90 (-4.8)

🌴 FCPO (RM2062) closed slightly higher after price dropped sharply to low of 2026. Trading was rather erratic with prices doing nearly a full circle. Positive factors are lacking at present. Production expecting higher, U.S. Is forecasting favorable weather for the current soybean crop, India is reporting good monsoon, China is showing slow economic growth and crude mineral oil is expected to continue weak.

🌺 Malaysia’s ringgit fell for a fourth day as Brent crude dropped below US$50 (RM193.30) a barrel for the first time since January, weighing on the net oil exporter’s revenue. 
RAM Rating Services Bhd (RAM Ratings)said the ringgit will be trading between RM3.80 and RM3.90 against the US dollar, up until the end of 2015.