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.

Trading Tips for the Day - 31 July 2015

FKLI will likely open higher for 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.

Trading Tips for the Day - 28 July 2015

FKLI will 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 - 27 July 2015

FKLI will likely open lower for 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 - 24 July 2015

FKLI will open lower for 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.

As for FCPO, market extended losses to a second day following weakness in related outside markets. CBT soyoil, China Dalian futures and crude mineral oil were all lower. Losses were however, held by the lower 1-20 July production reported by MPOA and weaker ringgit which lost about 0.4 pct vs SD. Prices were 19 to 5 lower in the morning and remained easier throughout the afternoon.

The lack of fresh factors kept market sideways in narrow range trading yesterday. The approaching peak production months in August - October usually results in lower markets, especially with tocks now above 2 million tonnes. Improved weather for the US soyabean crop is also negative. However, concerns over the forecast of El Nino weather and the existing big discount to soyoil may limit the downside. Smaller global rapeseed and canola supplies are also supportive.

Technical view - prices continued to trend sideways, keeping indicators unchanged.  Trend down ; RSI 43.50 ; support 2165 / 2130 / 2070 / 2000 ; resistance 2230 / 2285 / 2330.

In other news...

U.S. oil prices sank into a bear market as a global glut of crude shows little sign of abating. An unexpected increase in U.S. crude inventories, combined with high production already coming from the OPEC, is raising concerns that the market is settling into a long period of oversupply.
* Crude oil $48.45 (-0.74)
* Brent crude $55.27 (-0.86)

🇯🇵 Gold prices carved out a slight gain, interrupting 10 consecutive days of declines, as a weaker dollar and lower prices lured buyers back into the market. Now, $1089.65.

🇺🇸 The Dow industrials slumped Thursday following disappointing earnings reports from a handful of big U.S. companies. Weak results from heavy-equipment manufacturer and economic bellwether Caterpillar (-3.6%) weighed down the blue-chip index. Downbeat reports from American Express (-2.5%) and manufacturer 3M (-3.8%) also dented the benchmark.

€ European stocks closed mixed. Technology stocks gained in pre-market trading, led by a 13% surge in SanDisk after it reported Q2 profit that was nearly double consensus. Also, an increase in M&A activity is giving the market a lift with Cigna up 7% in pre-market trading after people familiar with the matter said Anthem is nearing a deal to buy Cigna for $48 billion.

€ European bank stocks rose, led by a 6% jump in Credit Suisse Group AG, after it reported better-than-expected earnings results.

📝 Representatives of Greece's creditor institutions will meet in Athens on Friday to hold formal negotiations on a new bailout after the Greek parliament passed a second round of reforms needed for a bailout. A Greek government official said decisions about reopening the Athens Stock Exchange and Greek financial markets will be deferred to next week.

🇯🇵 The Japan Jun trade balance narrowed to a -69.0 billion yen deficit from a downward revised -217.2 billion yen deficit in May, weaker than expectations of a +45.8 billion yen surplus.

🇨🇳 Chinese shares notched their sixth straight session of gains Thursday as Beijing-backed funds and buying by large shareholders appeared to support the market’s rebound, according to analysts.

🇨🇳 The IMF said it wants more financial-system overhauls from China as Beijing pushes for the IMF to label the yuan a reserve currency.

🌴 FCPO (RM2,189) extended losses to close lower following weakness in related outside markets. CBT Soyoil, China Dalian futures and crude mineral oil were all lower. The lack of fresh factors kept market sideways in narrow range trading.

Trading Tips for the Day - 21 July 2015

FKLI will likely open at 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 profit and put a stop 5 points away from your entry point.  Close your position by the end of the trading day.