Trading Tips for the Day - 20 July 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.

As for FCPO, market closed slightly lower Friday in a half day trading session. Selling followed sharp drop in CBT soyoil and lower China Dalian futures. Weak crude mineral oil also undermined sentiment. Losses were however held by some covering for the weekend Hari Raya holidays. Prices eroded to 23 lower early but recovered to 3 higher before closing lower.

It was mostly position squaring due to the holidays through the weekend. There are no fresh fundamentals. The Indonesian export levy and improved export pace for 1-15 July are supportive. Increasing production, better weather in the US for the soyabean crop, and weakness in crude mineral oil are negative.

Technical view - prices continue to hold the sideway trading range of 2150 - 2250.  Trend down ; RSI 42.77 ; support 2130 / 2070 / 2000 ; resistance 2250 / 2285 / 2300.

Trading Tips for the Day - 15 July 2015

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.

In other news...

Under the terms of the deal, the U.S., European Union and United Nations will lift economic sanctions against Iran’s energy and financial sectors imposed since 2012 in exchange for the country’s acceptance of limits on its nuclear activities for 10 years intended to keep it at least 12 months way from developing a nuclear bomb.

⛽ U.S. and global oil benchmarks ended higher after a topsy-turvy session in the wake of overnight news that Iran reached a nuclear agreement with world powers that could usher its ultimate return to international crude markets.

🇺🇸 U.S. stocks rose, pushing the Dow industrials index back above 18,000 for the first time in three weeks as corporate earnings started to play a slightly bigger role .
* J.P. Morgan Chase said its second-quarter profit rose 5.2% as earnings and revenue beat expectations.

🇺🇸 The White House said it sees U.S. economic growth rising by just 2% this year before rebounding to 2.9% in 2016—down from its earlier forecast of 3% growth for both 2015 and 2016 released in February—after the economy stalled during the first quarter.

€ European equities finished higher on hopes that the Greek parliament will be able to pass the legislation needed to get a third bailout. Also, another positive news on the German Jul ZEW survey of investor confidence fell less than expected.

🇯🇵 Japan's Nikkei Stock Index up +1.47% at a 1-week high as extra fillip from a weaker currency as the yenweakened to 123.72 per dollar, a twelve-day low.

🇨🇳 Shanghai Composite down -1.16% after tumbling as much as 3% in the afternoon. Mainland equities swung between gains and losses throughout the session as investors adopt a 'wait-and-see' approach to judge whether sentiment has stabilized following weeks of panic selling.

🇨🇳 China scrapped the quotas that limited investments from foreign central banks, sovereign-wealth funds and other big financial institutions in the country’s $6.

⛽China is set to release its second-quarter GDP figures today. There are some signs that the economy has started to stabilize.

👑 Gold reversed gains as the U.S. dollar came off its lows and the market awaited Federal Reserve Chair Janet Yellen's semi-annual testimony to Congress on Wednesday and Thursday, which may provide more signals about a looming rate rise.

🌴 FCPO (RM2,201) extended gains to a 1-week high. Buying was encouraged by higher CBT Soyoil and China Dalian futures. Gains were checked by sharp fall in crude mineral oil and rumours of lower 1-15 July exports. The pull back from low may keep prices in a 2150 to 2250 range.

Trading Tips for the Day - 10 July 2015

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,  market rebounded from big losses yesterday to close sharply higher today. Buying was led by technical correction from the oversold situation indicated in the stochastic and ideas that erosion yesterday was overdone. Steadier CBT soyoil and China Dalian futures also underpinned sentiment. Late rumours of good 1-10 July exports were also supportive. Prices were 7 to 18 higher in the morning and rose to 42 higher in the afternoon.

Rumours of 1-10 July exports to be reported by cargo surveyors tomorrow varied substantially. However, the numbers may not have much impact since market eroded sharply the past few days on outside factors, ie. plunging China stock market, Greece financial crisis, weak crude mineral oil, etc. Some support is likely ahead of the MPOB June data which is expected to report lower stocks and production.

Technical view - prices pulled back from the oversold stochastic to partially fill the big gap left on Wednesday. Trend remains negative.  Trend down ; RSI 41.79 ; stochastic oversold ; support 2130 / 2070 / 2000 ; resistance 2205 / 2250 / 2285 / 2300. 

In other news..

The IMF cut its global 2015 GDP forecast to 3.3% from a 3.5% estimate in Apr and also lowered its U.S. 2015 GDP estimate to 2.5% from a 3.1% estimate in Apr. The IMF said that risks to the world recovery remain “tilted to the downside” due to financial-market turbulence from China and Greece.

🇺🇸 U.S. Stocks followed global markets sharply higher in early trading, with the Dow industrials rising as much as 249 points, or 1.4%. But shares pared their gains to end modestly higher as the unexpected +15,000 increase in U.S. weekly jobless claims ( expectation -6,000) and the IMF's cut in its global 2015 forecast. 
* Dow +33
* S&P +4
* Nasdaq +12

€ European equities moved sharply higher on the hope that Greece will submit concrete proposals to creditors later Thursday. As expected, the BOE at the conclusion of today's policy meeting kept its benchmark interest rate at 0.50% and maintained its asset purchase target at 375 billion pounds.

📝 A top Puerto Rico finance official is set to meet on July 13 with bondholders as the commonwealth pushes to restructure its $72 billion of debt.

🇨🇳 China's Shanghai Composite rebounded from a 3-3/4month low and closed up +5.76% after regulators late Wednesday banned major stockholders from selling their shares for at least 6 months. China has unveiled measures almost every day over the past week to shore up the stock market. Deleveraging of margin buying continues as traders unloaded a record 112 billion yuan ($18 billion) of shares bought with borrowed money on the Shanghai exchange Wednesday, the 13th straight day of declines.

🇨🇳 China Jun CPI rose +1.4% y/y, more than expectations of +1.3% y/y. Jun PPI fell -4.8% y/y, weaker than expectations of -4.6% y/y and matched Feb’s 5-1/2 year low.

⛽ U.S. oil prices climbed, snapping a five-session losing streak, as expectations of higher Iranian crude-oil exports receded.

⛽ Nuclear talks between Iran and six world powers are appear likely to drag on past Thursday’s midnight deadline. If a deal isn’t complete by Friday morning, Congress will get an extra month to review the deal.

👑 Gold pared gains after climbing from the prior session's four-month low as a recovery in Chinese shares cooled fears of a wider rout in the major bullion consumer while strength in the U.S. dollar kept a lid on gains. Now, &1,160.50 (+0.95)

🌴 FCPO (RM2,187) rebounded from big losses on Wednesday to close higher. Buying was led by technical correction from oversold situation indicated in the stochastic. Late rumour of good 1-10 July exports were also supportive. Also, some support is likely ahead of the MPOB June data which is expected to report lower stocks and production.

🌺 Ringgit closed higher against the U.S. Dollar as Bank Negara Malaysia intervened to prop up the local unit, dealers said.

Ringgit ~ 3.7960 / 3.7980 vs USD

Trading Tips for the Day - 9 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.

As for FCPO, market continued to erode sharply, dipping to its lowest level since 22 May. Selling followed sharply lower CBT soyoil and China Dalian futures. Long liquidation and technical weakness added weight. Quiet cash market and ideas of slow demand also undermined sentiment. Prices gapped 54 to 74 lower in the morning and remained soft in the afternoon.

Outside factors dampened sentiment today. Continuous plunge in China stock market inspite of the government introducing supporting measures and the Greece financial crisis raised concerns over the global economic outlook, prompting a broad sell down in the equities and commodities markets. Higher production in the coming months and absence of adverse weather are likely to keep the trend negative in the coming months.

Technical view - the very sharp fall may see some rebound with the stochastic indicating oversold. Any pull back will be a sell opportunity.  -Trend down ; RSI 34.53 ; stochastic oversold ; support 2120 / 2070 / 2000 ; resistance 2205 / 2250 / 2285 / 2300.

Ringgit ~ 3.8040 / 3.8060 vs USD

Trading Tips for the Day - 8 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.

As for FCPO, market eroded further to new lows since 29 May. Selling was tied to bearish sentiment towards the seasonally weak period of high production months in August - October. Lower CBT soyoil and China Dalian futures together with weakness in crude mineral oil undermined sentiment. There was also no reports of serious adverse weather. Technical selling as prices broke below 2220 magnified losses. Bloomberg's poll on June data was discounted as within expectations. Prices were 12 higher to 7 lower in the morning and eroded to 30 lower in the afternoon.

In the absence of bullish factors, seasonal weakness is likely to dominate. Inspite of forecast for El Nino weather and reports of dryness in some countries, there is no impact on palm oil production yet. Meanwhile, weather is reportedly improving for the US soyabean crop which is negative. However, the short term fundamentals are supportive with lower stocks and the prospect of lower July production due to the coming Hari Raya holidays.

Technical view - the break below 2220 turned indicators negative. Prices may drop to 2130.  Trend down ; RSI 42.50 ; 5-day MA has diverged downwards from the 20-day MA ; support 2150 / 2120 / 2080 ; resistance 2250 / 2285 / 2300.

In other news...

 U.S. crude closed down slightly as investors fled to safe havens on worries about a near-bankrupt Greece and China's stock market losses and as technical selling threatened to push oil into a bear market. Iran's determination to seal a nuclear deal with global powers to bring more of its crude to an oversupplied market and the restart of a key oil terminal in Libya also weighed on oil prices.
* Crude oil $52.33 (-0.20)
* Brent Crude $57.00 (+0.43)

👑 Gold fell to a near four-month low on Tuesday as the dollar climbed ahead of an emergency euro zone summit on Greece with the country's banks rapidly running out of cash. Now, $1,156 (+1.0)

🇺🇸 U.S. stocks overcame sharp intraday losses to end higher, after a rout in commodities abated and as eurozone leaders considered proposals to offer Greece emergency financing. 
* Dow from -218 to closed +93
* S&P from -24 to closed +12
* Nasdaq from -89 to closed +5

💵 US dollar rose to five-week high against other currencies as concerns over the debt crisis in Greece and tumbling equities in China. U.S. Dollar against a basket of 16 currencies, gained 0.4% to 87.61.

📝 Greek Prime Minister Tsipras is heading to Brussels in a last-ditch attempt to secure a bailout as Eurozone leaders meet to discuss the Greece crisis. On Monday, the ECB rejected a Bank of Greece request to raise the Emergency Liquidity Assistance (ELA) ceiling for Greek lenders by 3 billion euros and raised the discount applied to Greek government debt pledged as collateral against ELA to 45%. People familiar with the matter said the ECB sees Greece's financial system surviving without an injection of extra liquidity at least until after today's summit of Eurozone leaders.

€ European markets turned sharply lower on Tuesday on concerns that Greece's negotiations with its creditors will drag on without a viable debt plan.

🇨🇳 China's Shanghai Composite fell -1.29% to a 3-1/2 month low as deleveraging of stocks bought on margin has fueled a sell-off in Chinese stocks for four of the past five sessions. Investors concern on the government’s seeming inability to halt the relentless slide in domestic share prices.

🌴 FCPO (RM2,209) eroded to new low since 29 May. Selling was tied to seasonal peak production. Moreover, lower China Dalian, Soyoil and crude mineral oil added selling pressure. Bloomberg's poll data on June was discounted as within expectation. Technical selling as price broken below 2,220.

🌺 The ringgit hovered near its lowest level since September 1998 against the greenback amid graft allegations surrounding the country's Prime Minister Najib Razak. Now, RM3.8150

Trading Tips for the Day - 7 July 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.

In other news...

Crude Oil prices tumbled the most in 3 months, with U.S. Crude falling nearly 8% after Greece rejected debt bailout terms and China rolled out emergency measures to support its stock markets. Adding to the pressure on oil markets, Iran and global powers were trying to meet a July 7 deadline on a nuclear deal, which could add more oil to oversupplied markets if sanctions on Iran are eased. 
* Crude oil $52.53 (-4.4)
* Brent crude $56.50 (-3.8)

🇺🇸 U.S. stocks fell, weighed down by a tumble in oil prices as well as Greek voters’ rejection of creditors’ conditions for further financial aid. Energy companies were the worst performing group in the S&P 500, falling 1.3%, as the price of oil fell to a nearly three-month low.

€ European stocks were down at a 4-3/4 month low after Greek voters’ rejection of austerity measures in Sunday's referendum increases the chances that Greece will be forced from the Eurozone. Stocks rebounded from their worst levels after Greek Finance Minister Vaoufakis resigned, which boosted speculation a last-minute deal with Greece's creditors was possible.

🇨🇳 China's Shanghai Composite Index closed up +2.41% after surging as high as 7.8% at the start of trade. The government suspended initial public offerings and the PBOC said it would provide liquidity for margin trading ($19b capital base).

🇭🇰 Hang Seng index reversed direction to slump 3.2%, hitting a near three-month low, as index heavyweight Hong Kong Exchanges and Clearing plunged 9%.

👑 Gold fell as a robust dollar outweighed the impact of lower equity markets and some retail demand after Greek voters rejected the terms of a bailout in the earlier session. However, gold turned higher at closed as France and Germany told Greecethe door was open to negotiations. Now, $1,169.40 (-0.60)

🌴 FCPO (RM2,235) closed lower after sharply lower China Dalian futures and crude mineral oil. Long liquidation and technical selling added price pressure. Fundamentally, the seasonal higher production and big global supply of soyabean are weighing on the market.

🌺 Malaysia's ringgit plunged on Monday to levels not seen since the late 1990s Asian Financial Crisis, taking a double whammy from the dual dramas of domestic corruption allegations and Greece. Now trading at RM3.8100.

Trading Tips for the Day - 6 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 point away from your entry point.  Close your position by the end of the day.

As for FCPO, market closed slightly higher Friday in a slow trading session. Fresh incentives were lacking with CBT closed tonight. Buying was encouraged by higher CBT soyoil and firmer China Dalian futures. Weekend short covering added support. Seasonal third quarter weakness and lack of bullish conviction checked gains. Prices were 1 to 18 higher in the morning and 11 higher to 3 lower in the afternoon.

There are no new factors. Buyers will be looking for signs of El Nino and continuation of excessive rains in the US soyabean growing areas. Sellers will be pointing towards weakness from the approaching peak production period of August - October. Meanwhile, some attention may be drawn towards the Greece situation this weekend, where any debt default and exit from the eurozone will undermine sentiment. Market will also be looking towards the MPOB June data and the 1-10 July exports in the coming week for incentives.

Technical view - indicators remain neutral with prices continuing to hold within the 2220 - 2285 range.  Trend sideways ; RSI 53.50 ; parabolic SAR at 2292 ; support 2220 / 2150 / 2120 ; resistance 2285 / 2300 / 2330 / 2360.  Interested to open an account to start trading futures? PM me for more info or visit http://jaceonmarkets.blogspot.com