FKLI will likely open higher 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, down trend continued yesterday with prices eroding to its lowest level since 19 December. Selling was prompted by sharp fall in CBT soyoil and crude mineral oil. China Dalian futures were also lower in sympathy. Quiet cash market also undermined sentiment. Technical sell stops below 2150 magnified losses. Weaker ringgit, which lost about 0.3 pct vs USD today, had little effect.
Prices were 28 to 42 lower in the morning and extended losses to 82 lower in the afternoon. There was little incentive for support with a quiet cash market giving ideas of slow demand. Weaknesses in CBT soyoil, following prospects of big South American soyabean crop, amid reports of improved weather, added to the negative outlook. Concerns over the global economy and low crude mineral oil price also undermined sentiment. However, the current low stocks and production may limit the downside.
Technical view - the break to new lows continues the down trend. Prices may test strong support at 2100. Trend down ; RSI 34.54 ; stochastic turning up from oversold ; support 2100 / 2080 / 2000 / 1915 ; resistance 2216 / 2250 / 2300 / 2355 / 2395
Friday, January 30, 2015
Thursday, January 29, 2015
Trading Tips for the Day - 29 January 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.
Wednesday, January 28, 2015
Trading Tips for the Day - 28 January 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.
Tuesday, January 27, 2015
Trading Tips for the Day - 27 January 2015
FKLI will likely open very near to yesterday's close, 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 day.
As for FCPO, the down trend continued as poor 1-25 January exports dominated sentiment. Market eroded to its lowest level since 23 December. Lower CBT soyoil, China Dalian futures and crude mineral oil provided early selling pressure. Technical sell stops as prices broke below 2200 added weight and prompted long liquidation. Prices were 8 to 28 lower in the morning and eroded to 60 lower in the afternoon.
The very low cargo surveyors' 1-25 January exports pointed to poor demand. Together with weakness in related markets and lack of fresh supporting factors, there was better incentive for selling. However, we are in the low production months of January - February which will see market sensitive to any pick up in demand. Weak ringgit, which lost about 0.4 pct vs USD today, is also positive.
Technical view - prices broke below 2200, pointing to 2150. The oversold situation in the stochastic may see some upward correction. No change in the down trend. Trend down ; RSI 35.73 ; stochastic oversold ; support 2150 / 2100 / 2080 / 2000 ; resistance 2250 / 2300 / 2355 / 2395 .
As for FCPO, the down trend continued as poor 1-25 January exports dominated sentiment. Market eroded to its lowest level since 23 December. Lower CBT soyoil, China Dalian futures and crude mineral oil provided early selling pressure. Technical sell stops as prices broke below 2200 added weight and prompted long liquidation. Prices were 8 to 28 lower in the morning and eroded to 60 lower in the afternoon.
The very low cargo surveyors' 1-25 January exports pointed to poor demand. Together with weakness in related markets and lack of fresh supporting factors, there was better incentive for selling. However, we are in the low production months of January - February which will see market sensitive to any pick up in demand. Weak ringgit, which lost about 0.4 pct vs USD today, is also positive.
Technical view - prices broke below 2200, pointing to 2150. The oversold situation in the stochastic may see some upward correction. No change in the down trend. Trend down ; RSI 35.73 ; stochastic oversold ; support 2150 / 2100 / 2080 / 2000 ; resistance 2250 / 2300 / 2355 / 2395 .
Monday, January 26, 2015
Trading Tips for the Day - 26 January 2015
FKLI will likely open slightly 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.
As for FCPO, market closed lower for the 3rd consecutive day after late buying strength was met by stronger weekend liquidation. With the lower CBT soyoil and China Dalian futures, BMD was under pressure from the opening. However, early afternoon weakness was not sustained and market rebounded to make the day's high before coming off again at the close. Prices were 5-21 lower in the morning and 2-24 lower in the afternoon.
With new factors lacking, market continued to slide and correct from recent gains. This weakness is aided by slipping CBT soyabean / soyoil on stronger USD and forecasts of record soyabean crops. More attention may be focused on crude oil with the passing of Saudi Arabia's King Abdullah. Nevertheless, improved palm oil demand will be of utmost importance if market is to check this down trend.
Technical view - prices remain on downtrend. However, it may be due for some pullbacks as short-term market is oversold as indicated by stochastic. Trend down ; RSI 42.59 ; stochastic oversold ; support 2200 / 2150 / 2100 ; resistance 2300 / 2355 / 2395 / 2435.
As for FCPO, market closed lower for the 3rd consecutive day after late buying strength was met by stronger weekend liquidation. With the lower CBT soyoil and China Dalian futures, BMD was under pressure from the opening. However, early afternoon weakness was not sustained and market rebounded to make the day's high before coming off again at the close. Prices were 5-21 lower in the morning and 2-24 lower in the afternoon.
With new factors lacking, market continued to slide and correct from recent gains. This weakness is aided by slipping CBT soyabean / soyoil on stronger USD and forecasts of record soyabean crops. More attention may be focused on crude oil with the passing of Saudi Arabia's King Abdullah. Nevertheless, improved palm oil demand will be of utmost importance if market is to check this down trend.
Technical view - prices remain on downtrend. However, it may be due for some pullbacks as short-term market is oversold as indicated by stochastic. Trend down ; RSI 42.59 ; stochastic oversold ; support 2200 / 2150 / 2100 ; resistance 2300 / 2355 / 2395 / 2435.
Thursday, January 22, 2015
Trading Tips for the Day - 22 January 2015
FKLI will likely open slightly lower, 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 eroded to its lowest level since 5 January, closing weak. Strong selling came in the
afternoon, tied to ideas of slow demand. Ideas that the flood situation is improving and absence of covering in the cash market undermined sentiment. Lower CBT soyoil and continuing weakness in crude mineral oil added weight. Market was higher early on supply concerns. Prices were 18 higher to 15 lower in the morning and eroded to 50 lower in the afternoon.
With no reports of tightness in the cash market, there was stronger focus on the poor January exports to date. Weakness in other vegetable oils, ie. soyoil, rapeseed oil, etc. in light of the expected bumper South American soyabean production and weak crude mineral oil added to the negative outlook. However, lower production through February will keep the market sensitive to demand and limit the downside.
Technical view - the weak close keeps indicators negative. Good support seen around 2250. Trend down ; RSI 48.73 ; stochastic oversold ; 5-day MA intersected 20-day MA from above ; support 2237 / 2200 / 2150 ; resistance 2355 / 2395 / 2435 / 2510.
As for FCPO, market eroded to its lowest level since 5 January, closing weak. Strong selling came in the
afternoon, tied to ideas of slow demand. Ideas that the flood situation is improving and absence of covering in the cash market undermined sentiment. Lower CBT soyoil and continuing weakness in crude mineral oil added weight. Market was higher early on supply concerns. Prices were 18 higher to 15 lower in the morning and eroded to 50 lower in the afternoon.
With no reports of tightness in the cash market, there was stronger focus on the poor January exports to date. Weakness in other vegetable oils, ie. soyoil, rapeseed oil, etc. in light of the expected bumper South American soyabean production and weak crude mineral oil added to the negative outlook. However, lower production through February will keep the market sensitive to demand and limit the downside.
Technical view - the weak close keeps indicators negative. Good support seen around 2250. Trend down ; RSI 48.73 ; stochastic oversold ; 5-day MA intersected 20-day MA from above ; support 2237 / 2200 / 2150 ; resistance 2355 / 2395 / 2435 / 2510.
Wednesday, January 21, 2015
Trading Tips for the Day - 21 January 2015
FKLI will likely open very near to yesterday's close, 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, market closed higher yesterday after trading on either sides of the previous day's close. Poor 1-20 January exports, easier China Dalian futures and lower e-CBT soyoil prompted selling early. Erosion in crude mineral oil, which lost about USD1.40 in Asian trade also undermined sentiment. Weak ringgit, which lost more than 1 pct vs USD today, and worsening floods in Sarawak encouraged support most of the session. Prices were 12 lower to 11 higher in the morning and 37 to 8 higher in the afternoon.
Floods remain a major factor as they will amplify the seasonal drop in production in January - February. Together with the prospect of further weakness in the ringgit, after Malaysia revised the 2015 Budget and economic targets amid the low crude mineral oil price, they will encourage support. However, demand is a concern with very poor exports for 1-20 January. The approaching harvest of the South American soyabean crop will also add pressure.
Technical view - prices are moving into a sideway trading range of 2250 - 2400. Trend sideways ; RSI 56.83 ; stochastic oversold ; macd intersects trigger line from above ; support 2298 / 2237 / 2200 / 2150 ; resistance 2355 / 2395 / 2435 / 2510.
As for FCPO, market closed higher yesterday after trading on either sides of the previous day's close. Poor 1-20 January exports, easier China Dalian futures and lower e-CBT soyoil prompted selling early. Erosion in crude mineral oil, which lost about USD1.40 in Asian trade also undermined sentiment. Weak ringgit, which lost more than 1 pct vs USD today, and worsening floods in Sarawak encouraged support most of the session. Prices were 12 lower to 11 higher in the morning and 37 to 8 higher in the afternoon.
Floods remain a major factor as they will amplify the seasonal drop in production in January - February. Together with the prospect of further weakness in the ringgit, after Malaysia revised the 2015 Budget and economic targets amid the low crude mineral oil price, they will encourage support. However, demand is a concern with very poor exports for 1-20 January. The approaching harvest of the South American soyabean crop will also add pressure.
Technical view - prices are moving into a sideway trading range of 2250 - 2400. Trend sideways ; RSI 56.83 ; stochastic oversold ; macd intersects trigger line from above ; support 2298 / 2237 / 2200 / 2150 ; resistance 2355 / 2395 / 2435 / 2510.
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