FCPO Commentary on 17/02/09

FCPO 3rd month April Futures contract plunge RM72 lower to close at RM1922 as compare to previous trading session with 9966 lots traded in the market. CPO price was trader lower in the second trading session.

Technically, CPO price seems encounter strong selling pressure around resistance levels at RM2000 regions. However, we still expect CPO price would trade higher in the coming trading session provided if support levels at RM1800 and RM1720 were not violated. Traders were advice to hold long position in the coming trading session while be cautious around the resistance levels at RM1960 and RM2000 regions.

FKLI Commentary on 17/02/09

FKLI February futures contract closed marginally 1.5 points lower to close 909 as compare to previous trading session with total 3719 lots traded in the market. Heavy profit taking activities in FKLI trading session after manage to surge 32 in the previous trading session.

Technically, FKLI was trading within 904 to 906 ranges during trading session but manage to breach 906 and close at 909 levels. We expect FKLI was still riding on a bull rally where strong resistances to be encounter around 914 and 927 region. Traders were advice to hold long position in the coming trading session provided support levels at 900 and 880 were not violated.

FKLI Commentary on 16/02/09

FKLI February futures contract surge 30 points higher to close 910.5 as compare to previous trading session with total 6701 lots traded in the market. FKLI was traded higher during the entire trading session despite not much movement for regional indices.

Technically, FKLI complete the falling wedge formation after break the resistance levels at 888 regions. We expect FKLI would continue to surge higher in the coming trading after mild correction after yesterday strong bust up. Traders were advice to hold long position in the coming trading session while be cautious around the resistance levels at 914 to 927 regions. Supports were seen at 896 and 880 regions.

FCPO Commentary on 16/02/09

FCPO 3rd month April Futures contract surge RM67 higher to close at RM1995 as compare to previous trading session with 8516 lots traded in the market. CPO price was traded higher during trading session due to strong soybean oil and crude oil electronic trading.

Technically, CPO price confirmed falling wedge formation after manage to breach the resistance levels at RM1938 and RM1960 region. We expect CPO price would trade higher in the coming trading session provided if support levels at RM1910 and RM1720 were not violated. Traders were advice to long position in the coming trading session while being cautious around resistance levels at RM2003 and RM2060 regions.