Trading Tips for the Day - 27 May 2015

FKLI will likely open lower 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, strong gains in China Dalian futures, with RBD palm olein rising about 3 pct, carried market sharply higher yesterday. Buying was also encouraged by the SGS export numbers showing an all time high for 1-25 days. Weaker ringgit, which lost about 0.3 pct vs USD, was also supportive. Technical buy stops as prices broke above 2170 added gains. Prices rose 17 to 54 higher in the morning and held steady in the afternoon.

Sentiment followed the jump in China Dalian RBD palm olein futures, which gave ideas of strong demand continuing. The SGS numbers showed its biggest exports to China for 1-25 May. With the usual better demand for festive Ramadan and imminent implementation of the export levy by Indonesia, there are expectations of strong exports in the coming months. Meanwhile, the market is entering the weather period where primary focus will be on USA and India. The current situation is neutral.

Technical view - the break above 2170 is positive. Prices may test resistance at 2200. Ringgit ~ 3.6250 / 3.6270 vs USD.  Trend sideways ; RSI 53.61 ; parabolic SAR at 2213 ; support 2150 / 2110 / 2070 / 2000 ; resistance 2200 / 2235 / 2270 / 2320.  Interested to trade futures? Please PM me for more info.

In other news...

🇺🇸 U.S. stocks closed about 1% lower on Tuesday as investors eyed renewed strength in the U.S. dollar and mixed data that could strengthen the case for a rate hike. 
- U.S. Durable Orders Slip, but Business Spending Firms Up
- U.S. New-Home Sales, Prices Climb

💵 The dollar rallied broadly, driven by a recent flurry of upbeat economic data in the U.S. that’s bolstered some investors’ confidence in the growth outlook.The Dollar soared to a nearly eight-year high against the Japanese yen, a one-month high against the euro and a six-week high against the Canadian dollar.

€ European stocks closed lower as renewed Greek default concerns as the Greek 10-year bond yield jumped over 50 bp to a 4-week high of 11.97% after ECB Governing Council member Hansson said an agreement on Greece is "not in sight yet."

🇨🇳 China's Shanghai Stock index up +2.02 % at a 7-1/3 year high on optimism that government plans to boost foreign access to markets will spur inflows.

🇯🇵 Japan's Nikkei Stock Index closed up +0.12% at a 15-year high after the yen sank to a 8-year low against the dollar, which boosts the earnings prospects of Japanese exporters.

⛽ Oil prices slipped on a stronger dollar and concerns that the recent rally in oil prices could spark an increase in production.

👑 Gold prices sank to a two-week low, as the dollar rose amid increased investor optimism that the Federal Reserve would raise interest rates after the summer.

🌴 Strong gain in China Dalian RBD futures, carried FCPO sharply higher yesterday. Strong exports reported and weak Ringgit were added support. Price break above 2,170 is positive.