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.
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